Published: 2005-11-04
This is the first warning of its kind from the SEC, and one prompted by an onslaught of complaints over the last few months. Just 6 months ago, this was not a concern for the SEC, Susan Wyderko told USA Today in an interview. A page has been created outlining how to protect yourself and what to do if you encounter a problem.
With new federal regulations being imposed on financial institutions, companies in this sector are working hard to improve the security of their sites. Earlier this year, E-Trade implemented a two-factor authentication option - the first of its kind from any large US financial institution.
As new attack vectors surface - such as the recent modifying of local DNS caches - users should be increasingly cautious that any computers they use for financial transactions are uncompromised. Unlike credit card fraud, which is limited in financial loss online stock traders have much more to lose - their retirement funds.
Posted by: Peter Laborge
