Caution for those who invest using home computer

joyfulguyAugust 25, 2006

The radio said this morning that a couple of investment accounts with investment dealers in the Toronto area, relating to tens of thousands of dollars, had been raided by hackers, with the investments being sold and other, speculative investments bought. They thought that the purpose was to generate activity in the speculative accounts and thus try to get the prices to rise artificially.

There was a suggestion that the investors who owned the accounts were working from a home computer, and may have been invaded by a spy system that recorded keystrokes, thus were able to learn PIN numbers.

Thought you might like to know.

ole joyful

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No one should be doing banking, investing or any other financial stuff on the internet with a Windows computer. It's just not secure.

    Bookmark   August 27, 2006 at 8:53PM
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Let's be realistic. You make sure you have adequate antivirus, anti-spyware, and firewall software, you utilize reliable institutions that aren't going to leave you in the lurch if there is unauthorized activity, and you monitor your accounts. Society is not going to turn its back on the convenience and advantages of online transactions. You can also be mugged walking to the bank...

    Bookmark   August 30, 2006 at 1:34AM
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Large organizations have been known to take the view that they didn't do it ...

... so they ain't payin'.

These guys were out tens of thousands, I believe.

Hackers put in order to sell their good stocks - and buy crap stocks. Which they, or their friends, principals of scrap companies that hired their call centre to shill their stock, had millions of worthless shares to peddle.

The couldn't order the stock broker to send them cash from hacked accounts - but they could order the account to buy large amounts of worthless shares.

Haven't heard yet what's to be done about it.

Going to a meeting of an investment group tonight - someone will likely have heard.

One learns a lot of good stuff from that group - two heads are better than one (even if they are cabbage) ...

... and two dozen, better yet.

ole joyful

    Bookmark   August 30, 2006 at 6:07PM
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well, I guess its just another way to lose your shirt and pants.

    Bookmark   August 31, 2006 at 10:53AM
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