Re: Hackers Hit Online Brokerages

["Dude VanWinkle" <dudevanwinkle () gmail com>]

botnet day trading?

sick.

-JP

On 10/23/06, Fergie <fergdawg () netzero net> wrote:
> Via The International Herald Tribune (Bloomberg News).
>
> [snip]
>
> Computer hackers in Eastern Europe and Asia have stepped up fraudulent
> attacks against customer accounts at U.S. online brokerage firms
> including E*Trade Financial and TD Ameritrade, according to executives
> from the companies.
>
> The Federal Bureau of Investigation, the Securities and Exchange
> Commission and regulators at the NASD are trying to unravel the fraud,
> which has cost E*Trade of New York at least $18 million and caused
> losses at Ameritrade of Omaha, Nebraska, the companies said.
>
> 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.
>
> "The perpetrators were more organized, and it was a bigger issue this
> quarter than it had ever been before," said Jarrett Lilien, chief
> operating officer at E*Trade. "It wasn't just hitting one company, it
> was hitting everybody."
>
> [snip]
>
> More:
> http://www.iht.com/articles/2006/10/23/business/etrade.php
>
> - ferg
>
>
> --
> "Fergie", a.k.a. Paul Ferguson
>  Engineering Architecture for the Internet
>  fergdawg(at)netzero.net
>  ferg's tech blog: http://fergdawg.blogspot.com/
>
>
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