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SEC Goes After Online Trading Firms That Unwittingly Helped Latvian Hacker
Posted about 26 days ago on Wired: Threat Level
Photo: Randy Le'Moine Photography/Flickr
In an effort to crack down on hacker/stock traders who hijack brokerage accounts and exploit the stock market for gain, the Securities and Exchange Commission has, in a novel move, gone after four online trading companies and eight executives who they say helped a Latvian hacker make more than $850,000 from fraudulent trades.
According to the complaint, filed by the SEC in federal court in San Francisco (.pdf), a 34-year-old individual using the name...