By Bruce Kelly
July 8, 2008
For the second time in a year, LPL Financial has experienced a major
technology snafu, this time reporting that hackers "compromised" the
logon passwords of 14 financial advisers and four assistants.
The hackers' goal was to use the passwords to gain access to customer
accounts in order to "pump and dump" penny stocks.
The incidents, which began last July, affected 10,219 clients,
Boston-based LPL said in a letter dated May 6 to Maryland Attorney
General Douglas F. Gansler.
Valuable private client information was at stake, Keith H. Fine, senior
vice president and associate counsel of LPL wrote in the letter, as the
hackers potentially could get their hands on clients' unencrypted names,
addresses and Social Security numbers.
Attend Black Hat USA, August 2-7 in Las Vegas,
the world's premier technical event for ICT security experts.
Featuring 40 hands-on training courses and 80 Briefings
presentations with lots of new content and new tools.
Network with 4,000 delegates from 50 nations.
Visit product displays by 30 top sponsors in
a relaxed setting. http://www.blackhat.com