Forum Archive Index - April 2000

["nick" <acummin@es.co.nz>]

      I was wondering what safeguards are in place against fraud.

 I have had mail stolen from my letter box including dividend statements

on which are written my shareholder number and my bank account number that the divs

were paid into. Also my ird number and number of shares held etc.

       How easy would it be for someone to take advantage of this information and

sell my shares?  I can imagine a scenario where the person pretends to be me

opens up a bank account in my name using something stolen from my letterbox

as id, then opens a brokerage account in my name. Then proceeds to sell my shares.

      If the brokerage firm asked for a fin number the fraudster would just say they lost it

and the registry would tell them.  Next thing i find i suddenly have no shares.

             What i would like to know is in the event of this kind of thing happening

is there anyway the victim would be able to gain reconpence?

         nick