Investors Warned About Online Accounts - InformationWeek
IoT
IoT
News
News
7/28/2005
02:42 PM
50%
50%

Investors Warned About Online Accounts

The National Association of Securities Dealers on Thursday warned investors against using public Wi-Fi connections for accessing online accounts, saying that they pose additional risks of confidential information being stolen by cyber criminals.

The National Association of Securities Dealers on Thursday warned investors against using public Wi-Fi connections for accessing online accounts, saying that they pose additional risks of confidential information being stolen by cyber criminals.

The NASD, based in Washington, D.C., issued two formal alerts, one for investors and the other for brokerage firms, offering guidance for protecting personal information.

"The Internet makes life a lot easier for investors on the go, but it also presents them with new and serious security concerns," Robert R. Glauber, NASD chairman and chief executive, said in a statement. "Investors have the responsibility to be vigilant when doing business on-line. But firms also have the responsibility to have the right policies and procedures in place to protect investor records and information."

Brokerage firms must have systems, policies and procedures in place to adequately address the risks posed by current technologies, and it's the NASD's job to make sure those safeguards are operating properly, Glauber said.

For investors, the NASD advised them to think twice about using the remember-my-username-and-password feature when accessing brokerage accounts, and recommended that they avoid using public Wi-Fi connections, called hotspots, for conducing confidential business.

"These hotspots are becoming more common and pose significant security threats," the NASD said.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
How Enterprises Are Attacking the IT Security Enterprise
How Enterprises Are Attacking the IT Security Enterprise
To learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Register for InformationWeek Newsletters
White Papers
Current Issue
Digital Transformation Myths & Truths
Transformation is on every IT organization's to-do list, but effectively transforming IT means a major shift in technology as well as business models and culture. In this IT Trend Report, we examine some of the misconceptions of digital transformation and look at steps you can take to succeed technically and culturally.
Video
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Flash Poll