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Oct 23, 2006 8:44 pm

On our system today:

 Online broker accounts infiltrated by hackers
Customer accounts at online brokers including E*Trade Financial (22.70,+0.85,ET) and TD Ameritrade Holding Corp. (16.64,-0.13,AMTD) have been infiltrated by computer hackers in Eastern Europe and Asia as one of the biggest cases of identity theft to strike the U.S. securities industry. The FBI, the SEC and the NASD are trying to unravel the fraud, which has cost E*Trade at least $18-million and caused losses at Ameritrade. In one “pump-and-dump” scheme the SEC uncovered, thieves used customers money to drive up the prices of little-traded stocks and then sold shares they bought earlier at a profit.

Oct 23, 2006 10:27 pm

Thank G-d for the FBI, SEC, and NASD. Hopefully the CIA and DOD get in on this action, too.