BROKER-DEALER FINRA -
Shares Practices Firms Use to Protect Customers from Online Account Takeover Attempts -
On April 11, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-18 (Notice) in response to increasing reports from customers experiencing customer account takeover (ATO) incidents. These incidents involve bad actors using compromised customer information, including login credentials, to gain unauthorized entry to customers’ brokerage accounts. FINRA reported the increase in ATOs comes as more firms offer online accounts.
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