Online ID fraud is hyped; real problem is off-line
Despite incidents such as the $22 million in losses suffered by E-Trade Financial Corp. and TD Ameritrade Holding Corp. from online identity fraudsters, the problem of online identity theft is vastly hyped when compared with its more prevalent off-line equivalent, according to one analyst group.
The two leading online stock brokerages have admitted in recent days that overseas hackers used software to steal personal customer data to access and create trading accounts as part of a stock-fraud scheme.
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