FINRA Issues Customer Account Protection Regulatory Notice to Protect Customer Monies from E-Mail Instruction-Related Theft
In Regulatory Notice
12-05, the Financial Industry Regulatory Authority (FINRA) noted an increasing number of
reports of customer funds stolen due to e-mail instructions received from compromised customer
e-mail accounts. The Notice highlights risks associated with non-genuine
instructions to transmit or withdraw funds via e-mail.
The Notice includes a requirement of the
implementation of policies and procedures to verify that e-mails are in fact legitimate and genuine
and were in fact sent by the customer, as opposed to a bogus third party, referring also to
Regulatory Notice 09-64.
More Videos
Have a Question?
Quick Contact
"*" indicates required fields
Recent
Blog Posts
- The Crypto Crash Gets Mom and Pop Retirement Investments
- Alternative Investments – Clearly not an Option for the Average Retiree
- Employer Non-Funded and Underfunded 401K Pension Contributions – A Disaster in the Making
- Power of Attorney Pitfalls – Be Careful who you Choose and Read Thoroughly Before Signing
- Indexed Universal Life Insurance (IUL) Fraud