Invasion of the Stock Hackers

svtrader · Nov 4, 2005

Interesting article from Business Week:

http://www.businessweek.com/technology/content/nov2005/tc20051103_565150.htm

I'd like to hear from IB if they have any plans to enhance security for customer accounts.

SethArb · Nov 4, 2005

www.interactivebrokers.com/en/accounts/secureTransactionProgram.php

mokwit · Nov 4, 2005

Anyone know of a program that scans for that type of activity or will a normal AV scan pick it up?

Another reason never to keep all funds with one broker.

svtrader · Nov 4, 2005

Quote from SethArb:

www.interactivebrokers.com/en/accounts/secureTransactionProgram.php

That's great for those have over $100K all the time in one account. What about someone who doesn't have the minimum $100K in a single account, or someone who has over $100K in a combination of accounts (regular + IRA)?

brokerboy · Nov 4, 2005

This guy had a thread on here I remember him. His name was etradevictim.

http://www.elitetrader.com/vb/showt...e=6&highlight=etrade wire wells&pagenumber=20

PuffyGums · Nov 4, 2005

Didnt know abt the $100k minimum. I bet people with less than $100K would be willing to pay for enrollment in the security program.

PuffyGums · Nov 4, 2005

One thing people must remember is to never respond to a html form sent in an email.

If you sign up for DSL now, you will get equipment that will automatically put you behind a firewall and proxy you to a home network (that is you won't be exposed directly to the internet). This offers a fair level of protection.

Change your passwords periodically.

Do not sign up for electronic transfers from your account. Use paper checks only to disburse money from your account.

PuffyGums · Nov 4, 2005

Quote from mokwit:

Anyone know of a program that scans for that type of activity or will a normal AV scan pick it up?

Another reason never to keep all funds with one broker.

Unfortunately many of these bad programs won't be picked up by a scan because you have accidentally given permission for these programs to be installed.

In Internet Explorer, go to Internet Options>Advanced and clear the Enable Install on Demand boxes.

Be careful about clicking OK on these dialog boxes that popup when you visit a web page. You might be giving permission to install something an not know it.

Free Thinker · Nov 4, 2005

Quote from SethArb:

www.interactivebrokers.com/en/accounts/secureTransactionProgram.php

i have one of these ib security tokens. while it adds a few steps when i want to transfer money it seems foolproof to me.

mhashe · Nov 4, 2005

Quote from svtrader:

Interesting article from Business Week:

http://www.businessweek.com/technology/content/nov2005/tc20051103_565150.htm

I'd like to hear from IB if they have any plans to enhance security for customer accounts.

Only broker that seems to be afflicted with this is E*Trade. If I were an E*Trade customer I'd close every single account with them and move elsewhere. IB has a safeguard in that they will only transfer money to the account you initially set-up with. For the hackers to setup another bank account they'd need your phone number, email address and passwd, your IB account # and passwd. Ofcourse if you're doing everything from a compromised PC then they probably have all the info. imo the best safeguard is to quit browsing porn on your PC.