Online brokerage account scams worry SEC

A quarter of American retail stock trades are done online, so crooks use spyware to infiltrate investor accounts.

The story "Online brokerage account scams worry SEC" published October 14, 2006 at 12:50 PM is no longer available on CNET News.

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[kyle172]

SSL

I think that we need to have another http protocol limited to only private industry which is limts who it can be used by. It's so Easy for anyone to get a https domain and say we are he or she.

[Marcus Westrup]

Tip of the ice burg

I do security in the online-stock trading industry and I've seen worse than this. The whole business is dirty - brokerages trying to discredit each other, DNS poisoning to divert traffic, demo accounts with fake funds being hacked to do real trades, money laundering, fiddling of the numbers by clearing houses, and lots of shady deals.
Tracks are allways well hidden to protect the guilty, but the damage is still done.
Very frustrating.

[solrosenberg]

SSL

SSL does nothing to prevent keyloggers.

[awkuhn]

Simple solution...

It is downright scary seeing how uneducated most security IT folks are. Phishing is eliminated through Trusted Computing. Educate the customer to buy new PCs with a Tusted Platform Module (TPM).

Brokerage houses and banks: Contact the Trusted Computing Group ( <a class="jive-link-external" href="http://www.trustedcomputinggroup.org" target="_newWindow">http://www.trustedcomputinggroup.org</a> ) and learn how to provide a secure service to your customers. Because if you don't you will ultimately be sued and you will have to shell out a lot of money...