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LPL to pay $275K fine for hacking incidents
From: InfoSec News <alerts () infosecnews org>
Date: Wed, 17 Sep 2008 02:04:45 -0500 (CDT)
http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20080915/REG/309159969 By Sara Hansard Investment News September 15, 2008 LPL Financial has agreed to pay a $275,000 penalty for violating customers' privacy, the Securities and Exchange Commission said Thursday. In July 2007, at least 10,000 customers were left vulnerable to identity theft following a series of hacking incidents into Boston-based LPL's online trading platform as a result of the brokerage firm's failure to adopt policies and procedures to safeguard customers' personal information, the SEC said in a statement (InvestmentNews, July 8). LPL, which has more than 1 million customer accounts, agreed to pay the fine without admitting or denying the findings. In mid-2006, LPL conducted an internal audit that identified inadequate security controls at its branch offices and specifically identified a risk from hacking, according to the SEC. But LPL failed to take timely corrective action, the SEC said. [...] __________________________________________________ Register now for HITBSecConf2008 - Malaysia! With a new triple-track conference featuring 4 keynote speakers and over 35 international experts, this is the largest network security event in Asia and the Middle East! http://conference.hackinthebox.org/hitbsecconf2008kl/
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