ID theft from spyware - does IB and other brokers do anything to prevent this?

A

aeliodon

I recall several threads started by guys that were ID theft victims using various brokers.
Do brokers in general and IB specifically (my broker) do anything to prevent this? For example, does TWS have security measures that prevents key logging programs and other spyware from collecting sensitive ID information?
Also, would you ever trade from a public library or other cyber cafe type of public space?
This issue is scary considering ID theft is so easy to do and easy to get away with - a very low risk - high reward crime.
In all the ID theft related threads created, the brokers simply blamed the customers.
 
For 2 years now, I've either been without anti-spyware and anti-virus programs or rarely used them. I finally installed AVG free for both spyware and viruses. I ran the scans last night expecting many infections, but the scans came up with nothing, other than the usual cookies. In fact I can't recall ever having an infection even though I occasionally stumble across a porn or gambling site.
One of my friends who's is a CS grad tells me that porn and gambling sites are the biggest proliferators of malware, why is that? Are CS masterminds running these sites?
 
You need Symantec, SpybotSD, a good firewall, etc. TWS is not a security program. It's a trading front end.

IB does have, and I highly recommend it, a small security device that creates a coded number that must match for any account transaction.

Get it. Use it!

Good trading to all. :cool:
 
Quote from aeliodon:

I recall several threads started by guys that were ID theft victims using various brokers.
Do brokers in general and IB specifically (my broker) do anything to prevent this? For example, does TWS have security measures that prevents key logging programs and other spyware from collecting sensitive ID information?
Also, would you ever trade from a public library or other cyber cafe type of public space?
This issue is scary considering ID theft is so easy to do and easy to get away with - a very low risk - high reward crime.
In all the ID theft related threads created, the brokers simply blamed the customers.
More...

You are asking the impossible. If malware gets root access (read admin rights on Windows) no process can protect itself. It is up to you to keep your PC clean.

No I would not use public PC for trading, banking or anything else of a sensitive nature.
 
ID theft from spyware - does IB and other brokers do anything to prevent this?

Spyware is in your computer. It is your problem, not the brokers'.
 
Yes the question is a little strange - about like asking "is my bank responsible if a pickpocket steals my wallet?..."

IB is responsible for keeping my data safe within its computer/corporate network.
 
One guy makes a post in another thread implying that IB has security measures to prevent ID theft related to spyware. So I, wanting to learn more about whether this is true or not, create this thread asking if IB and other brokers do in fact have such security measures. I never said brokers should have such measures.
 
There is a basic problem here.

If your computer security is compromised...
Then it would be almost impossible to PROVE what REALLY happened.
 
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