Compromised PC Leads To Big Fraud Losses For E*Trade

["Fergie" <fergdawg () netzero net>]

Those darned botnets...

Via InformationWeek.

[snip]

A compromised PC opened the door for cyber attackers to wreak havoc on
online broker E*Trade. The Securities and Exchange Commission, FBI, and
other government enforcement agencies are investigating the crime, in
which thieves conducted fraudulent transactions that cost the brokerage
millions of dollars to cover customer losses.

E*Trade CEO Mitchell Caplan this week acknowledged during a conference
call with financial analysts that his company "experienced a
significant increase in losses resulting from fraud relating to
identify theft." The fraudulent activity contributed to the $18 million
in fraud losses the company reported during its third financial
quarter. The company acknowledged in a statement that "the vast
majority of online fraud is identity-theft related and is a result of a
compromised personal computer."

[snip]

More:
http://www.informationweek.com/story/showArticle.jhtml?articleID=193402349

- 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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