I'd think that b4 any new accounts could ever be opened, it would require a credit report inquiry.

Sorry to hear of this and all the trouble it may cause.

Any ideas about what may have happened and where?

When you say 'broker' do you mean a stock broker? I've always wondered if it was possibly for hackers to actually get stock/money out of the accounts and if there was any insurance against it...like the banks have FDIC.

Sue

You can put a 'freeze' on your credit at the three credit bureaus (Experian, TransUnion, Equifax) so that new credit cards or lines of credit can't be issued in your name. Be sure to freeze at all 3 bureaus, and be sure to get a credit freeze rather than just a fraud alert put on the account. This should help prevent someone from pretending to be you and getting credit issued to them in your name.

I'd demand new account numbers for all accounts at the broker. And change all of your passwords.

I'd also want to know exactly what information was compromised - name & address? social security numbers? account numbers? account balances? more? If they can tell you what info was compromised, it might help you think of other precautions to take. And keep a close eye on transactions in all of your accounts to make sure someone isn't accessing them.

This is becoming increasingly common. Take the advice given above.

My DH has had his information stolen twice now, once from work and once Navy files were stolen. We did alert our bank and they flagged our account then asked for ID's whenever we were withdrawing funds. We later had a problem with a credit card (someone tried to change our mailing address), cancelled it and got another.

It is scary and it is a hassle. Good luck.

Angelaid,

You refer to the broker's reference to " ... their accounts ...." Do you have any idea of the number? If it was several, it's likely a breaking of their codes.

Do they have insurance against clients losing due to such events?

In Canada there's a broker-funded insurance-type agency called CIPF (Canadian Investor Protection Fund) that covers such investors in case of such losses.

Is this a full-service broker or a discount one? What methods have you used earlier to deal with your account - just through the broker, face to face or by phone? Done directly by you, whether via telephone or online?

I haven't done investing online, as my computer is old and I suspect the presence of a trojan horse and possibly a virus or two - so I don't want any little spies peering over my shoulder when I am using privacy codes for banking or brokerage accounts.

I think that I'd be asking that broker if s/he could give me some good reasons why I should not close my account.

Usually there's a hefty charge to shift/transfer out ... but I'd think that the compromised broker should do it without fee, in this case.

Do you have accounts with other brokers?

Check with them, as well, regarding compromised accounts!

Would you be interested in shifting your current accounts with the compromised broker to one or other of the others? Or how about a different one - possibly a discount broker, if you feel comfortable doing part of your trading based entirely on your own research ... and if not, why not? Haven't you learned enough about the markets that you could (soon come to) feel comfortable doing at least part of your investing on your own?
Much lower cost commission fees (lower levels of service) when buying and selling.

Log and document every action taken to investigate and protect your accounts.

Good wishes for getting through this serious situation without too much time, hassle and high costs.

ole joyful

Yeah, stock broker. I closed the accounts about a year ago but our personal information is still in their system.
I went and read up on how to freeze our credit reports. What a PITA!

Here is a link that might be useful: Freeze your credit report