Online scammers have been chasing bank accounts for a while now – most everyone is on to the Washington Mutual phish. Now, hackers are cracking online brokerage accounts. Both Etrade and Ameritrade have been hit hard, as thieves break into accounts, trade, and move money out.
So, customers are losing money at brokerages. How’s that any different than before the internet existed?
UPDATE: More on the pump and dump.