Identity Theft

What to do if someone steals your ID

Identity Theft: Brokerage accounts

A Publication of the Privacy Rights Clearinghouse

9. Brokerage accounts.

You do not have the same protections against loss with brokerage accounts as you do with credit and debit card or bank accounts.

The Securities Investor Protection Corporation ( www.sipc.org ) restores customer funds only when a brokerage firm fails. If an identity thief or other fraudster targets your brokerage account, refer to your account agreement for information on what to do.

Immediately report the incident to the brokerage company and notify the Securities and Exchange Commission, www.sec.gov Also notify the Financial Industry Regulatory Association, formerly NASD, www.finra.org.

To protect against fraud, put a password on each of your investment accounts. For more on identity theft involving brokerage accounts, how it can happen, and what to do, see the PRC alert, www.privacyrights.org/ar/BrokerageAlert.htm

 

 

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Identity Theft

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