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12-05AD Online trading account security breaches

Friday 20 January 2012

ASIC today advised clients of online stockbroking firms to urgently review their account security.

During regular surveillance of the Australian financial markets, ASIC has become aware of several stockbroking account intrusions involving unauthorised access and trading.

ASIC recommends that as soon as possible users of online stockbroking accounts:

ASIC also recommends users do this regularly, as with bank accounts.

If you become aware of any unauthorised trading on your account, you should contact your stockbroker immediately. This will help to ensure that any further unauthorised activity can be prevented.

ASIC is working with online stockbroking firms to help those clients who have been impacted.

ASIC is also working with other authorities to identify the source of the intrusions and pursuing a line of enquiry consistent with similar incidents in overseas markets.

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