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Does Low-Cost Vanguard Have Low-Cost (& Quality) Cyber Security?

Providing investors with a myriad of low-cost investment options has been the primary mission at the Vanguard Group for many years. The investment management titan is obviously doing something right as they are the largest mutual fund provider and the second largest ETF provider in the world. Vanguard founder John C. Bogle is known as the originator and the main force behind the popularization of index funds.

However, according to a whistleblower lawsuit filed by a Vanguard employee earlier this year, the fund giant is is too cheap too customer-focused to bite the bullet and mandate strong cyber security policies. Moreover, a dramatically increased number of fraud cases involving Vanguard clients last year seems to support the whistleblower's claims, reports Susan Antilla of The Street.

Details on Vanguard whistleblower lawsuit

Of note, the employee filing the whistleblower claim is not just some disgruntled call center employee from...