Beware of Online Job Classifieds Used to
Steal Your Identity |
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Thursday, May 22, 2008 —In another variation of the identity theft tale, stock traders posing as employees of a made-up Latvian brokerage firm appear to have stolen personal information from individuals who thought they were applying for a job through the popular classifieds Web site, Craigslist.
According to a complaint filed by the Securities and Exchange Commission, these traders allegedly used the job applicants' Social Security numbers, dates of birth and other information to open up online brokerage accounts. Applicants were told that the firm would need this information to conduct company "background checks"—because the firm would be entrusting them with the firm's money. The traders appear to have communicated only by email or fax.
After "hiring" several individuals, the firm allegedly sent funds to those individuals' personal bank accounts using wire transfers from Russian bank accounts and a Western Union money order. The individuals were instructed to wire those funds from their bank accounts to specific account numbers—which corresponded to the brokerage accounts opened with their personal information, without their knowledge.
In addition, the traders allegedly used stolen user IDs and passwords to gain unauthorized Internet access into existing brokerage accounts of unsuspecting victims. Using the new and existing brokerage accounts, the traders used sophisticated strategies to trade and manipulate the prices of a number of thinly traded stocks—at a handsome profit.
FINRA urges investors, when conducting any activity on the Internet, always to be on guard and to check out anyone who is asking for your personal information before you give it out. Not every request for your Social Security number is an effort to steal your identity—but not every request is mandatory. With some healthy skepticism and caution, you can take steps to protect your identity, so that the Internet remains a source of convenience—not heartache.
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