FINRA Warns Of Wave Of E-Mail Account Scams Hot

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FINRA's new alert on email fraud tells retail investors what to look out for: weird replies to messages they never sent, unauthorized account setting changes, or even just a wave of account hacks among people they know.

 

By this point, your clients should know never to click directly on a link in an email from someone they don't recognize. Scam artists often hide virus code in these links to tempt the unwary into downloading trouble.

 

Once these hackers get their software onto a computer, they can then access the email account and send withdrawal orders to any financial institutions they find mentioned in the files.

 

FINRA advises anyone who thinks their account has been hacked to notify their intermediaries -- banks, brokers, credit card companies, everyone -- and change their account numbers and all passwords immediately.

 

The regulators also warn financial companies that it's never a good idea to simply accept an email note as a valid order to pull money out of an account.

 

Email has become ubiquitous and has come a long way in terms of security, but it's still nowhere near foolproof.

 

 

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With classes approved for over a decade by the CFP Board, IWI, and NASBA, Advisors4Advisors CE classes are an optimal knowledge stream for CFP®, CIMA®, CPA, CPA/PFS®, CFA®, and other practitioners. It's not a grab bag of speakers willing to sponsor CE content. Nor is it a one-man CE course. It's a group of subject matter experts with amazing communication skills and a history of thought leadership that, together, give advisors a well-rounded knowledge system for running a professional practice ethically and intelligently.

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A4A CE classes for financial professionals began in October 2008, the week Lehman Bros. collapsed. Initially billed as “The Financial Crisis Webinar Series,” A4A connects advisors with authoritative sources on investing, tax, and financial planning, chosen by A4A Editor Andrew Gluck, a veteran financial reporter. A4A members get a stream of CE classes for an advisor who: 

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