Michael Cooney
Senior Editor

Hackers targeting retirement accounts

Opinion
Jan 5, 20071 min

Scarey story on how you could lose your 401k money via Internet fraud. The story on MSNBC.com follows a man who had almost $180,000 stolen from his J.P. Morgan 401k account by a hacker before Christmas. The article says: Few consumers appreciate the fact that, unlike credit card and checking account transactions, there are no federal consumer regulations specifically protecting consumers in the event of brokerage account hacking, said Gartner fraud analyst Avivah Litan. And with hackers targeting investment accounts more frequently, the legal loophole could leave investors with some ugly surprises.