03-16-07, 03:53 AM
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Three Indian National Indicted In Online Brokerage Hacking | |
March 13, Washington Post — Three Indicted In Online Brokerage Hacking Scheme.
Federal prosecutors unsealed indictments Monday, March 12, of three Indian nationals who allegedly used stolen passwords to hijack the online brokerage accounts of scores of U.S. investors, a scheme that resulted in more than $2 million in losses, authorities said. The case is one of several recent examples of electronic intrusion in which hackers exploit technological loopholes to make unauthorized purchases and sales of stock. Two of the suspects have been taken into custody in Hong Kong, the first international arrests in a wave of such schemes. The Department of Justice and the Securities and Exchange Commission (SEC) are investigating similar cases, according to government officials. Securities regulators filed related charges against the men, who allegedly manipulated the stock of more than a dozen companies, from thinly traded penny shares to those of Google and Sun Microsystems. The men allegedly used stolen user names and passwords to access investor accounts at such prominent brokers as TD Ameritrade, ETrade Financial and Charles Schwab. The brokers ultimately reimbursed more than 60 investors who experienced losses, according to John Reed Stark, chief of the SEC's Office of Internet Enforcement. Source: http://www.washingtonpost.com/wpW...031201558.html
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