Filed Under:Annuities, Suitability

Financial advisors: Is your business identity at risk?

Identity theft is a global epidemic afflicting millions of consumers every year. But consumers aren’t the only entities at risk. So are businesses, including financial advisors of all types. Here’s a case in point.

According to the California Department of Insurance, Eugene Shy-Ren Hsu, 31, was arrested in December 2013 and charged with using another agent’s identity to obtain a credit card. He also used that identity to apply for life insurance policies without consumer knowledge, netting tens of thousands of dollars in bogus commissions.

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Nichole Morford

Nichole Morford
Managing Editor

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