Andrew Gluck

ContactAndrew Gluck is a veteran financial reporter and the founder and CEO of Advisor Products Inc., a marketing company serving 1,800 financial advisory firms.
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Advisor Products Inc.

USA Today Reports On A Phishing Scam Aimed At Tricking Financial Advisors Into Wiring Client Money edit
Tuesday, August 28, 2012 15:53

Tags: privacy; security

In a new twist on an old phishing scam, cyber-robbers are reportedly using e-mail to con financial advisers into wiring cash out of clients' online investment accounts. A "veteran financial planner" was duped by a Gmail message appearing to arrive from an insurance company executive.

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According to a security security consultant quoted in the USA Today report, if the adviser falls for the ruse, a wire transfer gets legitimately executed and cash flows into a bank account controlled by the thieves — leaving the victim in a dispute with the financial adviser over getting made whole.

 

 

 

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