TD Ameritrade - Customers IDs & Data Hacked!

[This post is written and copyrighted by FIRE Finance (]

TD AmeritradeWe received a note from TD Ameritrade this morning informing us that they had discovered malicious code in their database which contained their customers' social security numbers! We were shocked to read this, since it implies identity theft.
But the note went on to say that they have removed the unauthorized code from their system and till now there has been no evidence to establish that the code had actually retrieved data or identity theft was committed. Here is a quote from their note which shows what they are doing to protect us:
"To further protect you, we have hired ID Analytics, which specializes in identity risk, to investigate and monitor potential identity theft. ID Analytics provides identity risk services to many of the country's largest banks and telecommunication companies, as well as government agencies. Following its initial evaluation, ID Analytics found no evidence of identity theft as a result of this data breach. We will retain its services on an ongoing basis to support your TD AMERITRADE accounts and to monitor for evidence of identity theft. We will alert and advise you if any is found. As always, we encourage you to remain alert in guarding your personal information, regularly review your account statements and monitor your credit activity from the major reporting agencies.

We sincerely apologize to you for this situation and want to assure you that protecting the security and privacy of your assets and information remains a top priority. We have made and will continue to make significant investments in security software, systems and procedures, and we will remain vigilant about protecting you."
Now what? We have no option but to hope for the best yet prepare for the worst.

identity theftOur assets at Ameritrade will be covered by their Asset Protection Guarantee, which protects us and our assets from any unauthorized activity that may occur in our account through no fault of our own. If we lose cash or securities as a result of such activity, we will be reimbursed for the cash or shares of securities lost.

We are going to check our credit reports to see if everything is okay on that front. In this electronic age information and identity thefts are a constant threat. We have to be constantly on our toes to deal with them.

Image Source(s): iStockPhoto

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