10/25/2006

Hackers disrupt on-line brokers

Filed under: — By Aviran Mordo @ 12:07 pm

High-tech crooks using spyware are costing U.S. discount brokerages millions of dollars to repay clients who have been victimized by fraud, the brokerages said in recent days.

The U.S. Securities and Exchange Commission warned earlier this month that scammers were hijacking online brokerage accounts using spyware and operating from remote locations.

TD Ameritrade Holding Corp. on Tuesday became the latest brokerage to confirm the problem. It said it cost $4 million in the third quarter to make whole customers whose accounts had been hacked.

Source: Reuters

 

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