Readers' Comments
Total Comments: 24
Page 1 of 3
Page 1 of 3
« Previous | Next »
Some TSP Investors Lost Money to Thieves: Who Will Pay for the Loss?
Total Comments: 24
Page 1 of 3
Page 1 of 3
« Previous | Next »
Free Email Newsletter
| Close | Change | YTD | |
| G | $13.2114 | +0.0012 | +0.70% |
| F | $13.6201 | -0.0062 | +2.14% |
| C | $13.8116 | -0.0706 | +4.49% |
| S | $17.9282 | -0.1903 | +8.91% |
| I | $18.5079 | -0.0782 | -0.16% |
| Close | Change | YTD | |
| L 2040 | $16.1968 | -0.0789 | +3.59% |
| L 2030 | $15.9593 | -0.0673 | +3.23% |
| L 2020 | $15.7365 | -0.0532 | +2.72% |
| L 2010 | $15.4595 | -0.0197 | +1.57% |
| L Income | $14.0856 | -0.0155 | +1.48% |
March 20, 2010
Search:
Custom Search
Home | About Us | FAQ's |
Site Map | Terms of Use |
Privacy Policy |
RSS 
|
Twitter 
| Mobile
© 2010 FedSmith Inc. All Rights Reserved.
Agree with TSP
CDC
Tue Jan 30, 2007 9:42 AM
Post Reply
TSP ( and indirectly me as a shareholder) should not pay for the lack of caution on someone else's computer. The money will come from me in the form of higher expenses. The computer owner bares the responsibility of his loss because he did not check for the malware on a regular basis.
Re: Agree with TSP
SPAWAR San Diego
Tue Jan 30, 2007 12:11 PM
Checks and Balances
DOI
Tue Jan 30, 2007 9:58 AM
Post Reply
It is becoming rather common to require a confirmation - via email or telephone number of record - for various financial transaction requests from the supposed requestor. Would this not eliminate the potential to rob accounts with keylogger information? It may be fairly easy to steal a username and password electronically - I don't believe it is easy to intercept a telephone call or confirmation email message to a valid email account.
TSP Account Security
NASA
Tue Jan 30, 2007 10:05 AM
Post Reply
Why has the TSP NOT implemented the same additional layer of account access security that the federal government has required private financial organizations to implement recently? Sounds like a lack of basic fudiciary responsibility on the part of the TSP Board to me!
How did they get the money
USDA
Tue Jan 30, 2007 10:08 AM
Post Reply
I understand the key stroke software got the information. But how did they get the money? How was it withdrawn? Fake loan request, retierment, roll over request? Somebody has to touch the money some where, why can't it be followed to the end? You can bet that I will be watching this and may not leave my money in the TSP if this problem is going to be my problem in the end. Maybe TSP needs to change how investors are able to access funds to help correct this problem. At least private sector would be held accountable for the loss. I guess for the time being will try and only access my information from my work computer which I hope is more sucure than my home. I do have software installed on my home computer and update often, But the BAD people always seem to find a way don't they.
Re: How did they get the money
gov
Tue Jan 30, 2007 4:29 PM
I was wondering the same thing. I am not sure how this was accomplished because contributions to TSP are done on a seperate system. So I am not sure how they were able to divert funds out of TSP when that portion of the transaction is done in another system. Is it different in other branches of government?
I have never done a rollover, loan or withdrawal so I do not know the process for this. But I agree that confirmation should be done before the final transaction takes place to add another layer of security, especially since the email address can't actually be changed in TSP (I think) so it would make it harder for a thief to divert funds.
TSP Should pay regardless...
Does it matter?
Tue Jan 30, 2007 10:41 AM
Post Reply
Pay up TSP! If you can trace the whereabouts of the money, you better do something to get that money back!
No if, but's, can't, will be suffice. Oh, and please make sure to respond for the potential increases investors would have had if the money had not been taken out of the account.
Re: TSP Should pay regardless...
dod
Tue Jan 30, 2007 3:09 PM
It’s been a well known fact for quite some time that clever and innovative crooks try to invade personal computers with spyware to do this sort of thing. They are often clever enough to immitate the real account holder and perform any transaction the real account holder is entitled to. To ignore this and not hold people accountable for protecting their own information on their own computers is a naïve perspective in this day and age. I sympathize with folks who have lost money but personal responsibility can’t just be thrown out the window.
TSP Theft
US Coast Guard
Tue Jan 30, 2007 11:26 AM
Post Reply
I'm sitting here wondering just how the heck the thieves were able to effect the transfer of money from a TSP account. I've always thought the only way to remove money from an account was by a TSP loan or a separation from government service both of which requires a plethora of documentation to accomplish. We're not talking about a regular checking or savings account here! What actually happened? So the thieves got keystroking software and in turn got the account passwords. So what? What can they do at that point? 1) Move the money into one of the investment vehicles? Big deal! 2) Oh, there IS no two! Somebody please tell me how the money left the account?
Stolen TSP Funds
USDA, Rural Development
Tue Jan 30, 2007 2:51 PM
Post Reply
The money should be refunded to the unlucky plan participants and TSP Administration should put better theft prevention measures in place.
Re: Stolen TSP Funds
US Army
Wed Jan 31, 2007 9:13 AM