| Every time the public thinks it has a handle on cyber | | | | any money earned from their previous portfolio. |
| crime, hackers come up with something new to throw | | | | E-Trade and other companies affected by the scam, |
| into the mix. Reports this week name the newest | | | | such as DT Ameritrade, plan to reimburse the money |
| targets for cyber criminals: online brokerage houses, | | | | their customers lost, though the companies are not |
| which have lost millions of dollars in an online fraud that | | | | required by law to do so. The Federal Bureau of |
| is apparently the latest in the world of hacker couture. | | | | Investigation (FBI) and the Securities and Exchange |
| Reports from online broker E-Trade Financial Corp | | | | Commission (SEC) are investigating the issue, and |
| state that the company has been compromised by | | | | many online brokers are stepping up to the plate and |
| hacker attacks originating from crime rings in Thailand | | | | offering customers information on internet security and |
| and Eastern Europe. The hackers recently cost | | | | access to security software. |
| E-Trade clients up to $18 million through tactics that | | | | In the spirit of this gesture, the E-Trade Financial Corp |
| include hacking into customer accounts and making | | | | website lists some tips that can help you protect your |
| unauthorized stock trades. The scam starts with the | | | | account and personal information both on and off their |
| hackers installing keyloggers either on a victim's | | | | site: |
| unguarded personal computer or on a public computer | | | | - Use anti-virus software. |
| station, such as those found in a library or hotel. The | | | | - Use a personal firewall package. |
| keyloggers are used to gain access to a customer's | | | | - Use current versions of software and operating |
| brokerage account, at which point the hacker will wait | | | | systems (and keep them patched/updated). |
| until the customer logs off, log himself in with the | | | | - Secure your wireless network. |
| victim's user name and password, and use the | | | | - Use your own computer. |
| account to sell the customers existing stock shares. | | | | - Choose strong passwords and change them |
| The money made from the sale of those stocks is | | | | regularly. |
| used to purchase microcap stocks, which are low | | | | - Use a unique ID and password. |
| value stocks that are inexpensive and usually are not | | | | - Protect yourself against identity theft. |
| traded in large volume. The purchase drives up the | | | | - Use the strongest encryption available. |
| value of this stock, shares of which the hacker has | | | | - Empty your temporary Internet files or cache folder |
| already bought at a lower price through another | | | | when finished. |
| account. The hacker is then able to sell his own stock | | | | - Test your system for vulnerabilities. |
| and make a profit. Meanwhile, the victim is left with an | | | | - Be prepared for problems. |
| account full of unwanted, low value stock and has lost | | | | |