Hackers Target Online Brokerage Firms In Latest Cyber Scam

Every time the public thinks it has a handle on cyber crime, hackers come up with something new to throw into the mix. Reports this week name the newest targets for cyber criminals: online brokerage houses, which have lost millions of dollars in an online fraud that is apparently the latest in the world of hacker couture.

Reports from online broker E-Trade Financial Corp state that the company has been compromised by hacker attacks originating from crime rings in Thailand and Eastern Europe. The hackers recently cost E-Trade clients up to $18 million through tactics that include hacking into customer accounts and making unauthorized stock trades. The scam starts with the hackers installing keyloggers either on a victim's unguarded personal computer or on a public computer station, such as those found in a library or hotel. The keyloggers are used to gain access to a customer's brokerage account, at which point the hacker will wait until the customer logs off, log himself in with the victim's user name and password, and use the account to sell the customers existing stock shares.

The money made from the sale of those stocks is used to purchase microcap stocks, which are low value stocks that are inexpensive and usually are not traded in large volume. The purchase drives up the value of this stock, shares of which the hacker has already bought at a lower price through another account. The hacker is then able to sell his own stock and make a profit. Meanwhile, the victim is left with an account full of unwanted, low value stock and has lost any money earned from their previous portfolio.

E-Trade and other companies affected by the scam, such as DT Ameritrade, plan to reimburse the money their customers lost, though the companies are not required by law to do so. The Federal Bureau of Investigation (FBI) and the Securities and Exchange Commission (SEC) are investigating the issue, and many online brokers are stepping up to the plate and offering customers information on internet security and access to security software.

In the spirit of this gesture, the E-Trade Financial Corp website lists some tips that can help you protect your account and personal information both on and off their site:


Use anti-virus software.
Use a personal firewall package.
Use current versions of software and operating systems (and keep them patched/updated).
Secure your wireless network.
Use your own computer.
Choose strong passwords and change them regularly.
Use a unique ID and password.
Protect yourself against identity theft.
Use the strongest encryption available.
Empty your temporary Internet files or cache folder when finished.
Test your system for vulnerabilities.
Be prepared for problems.

Additionally, it is recommended that online traders avoid trading or checking brokerage accounts from public computers and avoid opening or clicking links in any emails sent from an online broker, as the email could easily be part of a phishing scam. If you think you have been a victim of online trading fraud, contact the FBI's Internet Crime Complaint Center at http://www.ic3.gov/.

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UAVs Hacking Wireless Networks - Latest Threat, Military Strategy, or Surveillance Tool?

At the famous hacker convention in Las Vegas, some of the computer security industry professionals there have created a UAV which can fly around and break into computer systems via their wireless connections. Is this a new scheme? Is this an innovative idea? I would submit to you that it's not a new original thought, as I had written an article about this a year or so ago on such a concept, and there are old tales of UFOs flying over missile silos containing ICBMs during the Cold War, and shutting down the entire system.

Yes I know, talking about UFOs, or unidentified flying objects, seems a little bizarre. But, whether or not those stories are true, hardly matters, because the stories go back to the 1970s and really this new hacking technique, which will probably be used by the US military is not a new thought, we can trace its origins back over four decades. Nevertheless, it is interesting new technology, and perhaps we should discuss this.

There was an interesting article in Physorg [dot] com recently on August 6, 2011 titled; "Hacker drone launches airborne cyber attacks," written by Glenn Chapman which stated;

"Computer security specialists built a small MAV drone aircraft that can launch airborne cyber attacks, hijacking mobile phone calls, or even delivering a dirty bomb. It is loaded with software to attack Wi-Fi, Bluetooth, and GSM cell networks. The MAV grabs packets of data sent on wireless networks or unsecured hot spots as gateways to get in to computer systems. It can get GMS mobile phone IDs used to bill outgoing calls. Hackers can impersonate cell phone towers and eavesdrop on people's calls."

Perhaps, this is a good reason for people to secure their Wi-Fi at home, or in their businesses, and not leave open networks, because hackers can break in. It's also a good reason for government computer systems, and large corporations to think twice about having any sort of wireless communication too accessible, or allowing too much information to flow through them, which is of high value, proprietary, secret, or involving financial transactions.

We've always known that someone can park a Van near a Wi-Fi connection, and attempt to break into the computer system. In Silicon Valley there were computer professionals which did this quite often to test the security of various corporations. Flying a small model airplane or micro air vehicle, or even a military UAV over a location to get into the system might indeed help the cyber warfare division of the US military. We can also expect that our enemies will try to do this to us too, and unfortunately we can also expect criminal hackers to try to break into our personal information in this way.

Indeed, just when you thought it was safe to use your mobile phone, Wi-Fi, or wireless network - someone has invented a new way to get in. Be careful out there folks, indeed I hope you will please consider all this and think on it when you are devising a strategy for Internet security and safe mobile phone transactions.

Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank. Lance Winslow believes writing 24,444 articles by September 4th at 4:44 PM will be difficult because all the letters on his keyboard are now worn off now..

The Latest Internet Security Technology For Malware Threats

Titanium strength technology is a must for combating malware, malicious software that is hostile, intrusive, or annoying program code designed to infiltrate your computer system without your consent. It includes computer viruses, spyware, Trojan horses, worms, adware, rootkits, botnets, crimeware, and other unwanted software.

The US Federal Deposit Insurance Corporation says that malware involves organized Internet crime. In 2009, businesses lost $120 million in the third quarter to phishing and Trojan-based online banking scams. $25 million was lost by small businesses. Basically a cyber-criminal's objective is to make money from invading computers. There are less computer viruses or worms but we are seeing more phishing attacks and spam numbers are exploding with organized crime and more pieces of malware.

Although tracking browsing habits and advertising are part of the crimes, primarily these are targeted attacks that use computer systems for criminal activities. Anti-virus software has been retired in lieu of more savvy in-the-cloud technology geared to automatically stop viruses and spyware for complete Internet security.

In an annual report of the FBI-backed Internet Crime Complaint Center, Internet crime loss complaints in the United States have almost doubled in value from $265 million in 2008 to $560 million in 2009. The total dollar loss from all referred cases was $559.7 million with a median dollar loss of $575. At 65.4 percent, the U.S ranked highest for the number of perpetrators. These statistics are why Internet security and safety is critical today. The Center also reported that the unit handled 336,655 complaints in 2009.

The challenge is that malware works fast in stealth mode, and data-stealing malware can cause damage via one click which can compromise a company's reputation or personal confidential data.

Here are some basic guidelines for safe computing online:

1.) Always install Microsoft's critical updates - the monthly software updates designed to patch security vulnerabilities and threats. It is critical to install monthly updates from Microsoft.

2.) Make sure you have installed anti-virus/spyware/malware protection. Watch for cloud technology to automatically stop viruses and spyware before they reach your computer.

3.) Add a Firewall to block a hacker's attempts to access your computer. Windows XP, Windows Vista and Windows 7 all have firewalls which block and filter Internet traffic so harmful programs like viruses and spyware don't have access.

4.) Install Opera,Firefox, or Chrome as a second browser because most spyware and viruses target Internet Explorer. Often a virus is designed to keep Internet Explorer from accessing the Internet when a computer becomes infected with spyware.

5.) Always disable Java Script - viruses and spyware are using Java script to launch attacks so you should disable or at least change the browser setting to ask before running Java script.

6.) Do not ever open email attachments from someone you don't know - as it is a fact that most all viruses infect computers through email attachments. One should click on the attachment and delete the email immediately whenever you get an email from someone you do not know.

7.) Do not install programs off the Internet. The Internet is full of websites designed to trick you into downloading spyware and viruses. When you see random pop-ups from an Internet site asking you to install something, especially a ".exe" file - just say no.

8.) Don't forget to back up all your critical data - bills, banking or tax information, school work, email or other critical information on your computer. Create a weekly backup by using an external hard drive, a flash drive or subscribe to one of the many online backup services.

Traditional content security solutions are simply not fast enough to keep pace with the thousands of new attacks being created on an hourly, basis. But there are exciting new technologies that can assist consumers and enterprises alike in fighting the war against cybercrime.

Kristin Gabriel is a marketing professional working with Trend Micro Titanium Internet Security for Netbooks which uses cloud technology to automatically stop viruses and spyware before they reach your computer. Real-time updates keep PCs protected from the latest online threats. Using less than half the disk space and memory of traditional security products, Titanium is light on system resources so computers run faster. Visit: http:/www.trendmicro.com.

The Latest Internet Security Technology For Malware Threats

Titanium strength technology is a must for combating malware, malicious software that is hostile, intrusive, or annoying program code designed to infiltrate your computer system without your consent. It includes computer viruses, spyware, Trojan horses, worms, adware, rootkits, botnets, crimeware, and other unwanted software.

The US Federal Deposit Insurance Corporation says that malware involves organized Internet crime. In 2009, businesses lost $120 million in the third quarter to phishing and Trojan-based online banking scams. $25 million was lost by small businesses. Basically a cyber-criminal's objective is to make money from invading computers. There are less computer viruses or worms but we are seeing more phishing attacks and spam numbers are exploding with organized crime and more pieces of malware.

Although tracking browsing habits and advertising are part of the crimes, primarily these are targeted attacks that use computer systems for criminal activities. Anti-virus software has been retired in lieu of more savvy in-the-cloud technology geared to automatically stop viruses and spyware for complete Internet security.

In an annual report of the FBI-backed Internet Crime Complaint Center, Internet crime loss complaints in the United States have almost doubled in value from $265 million in 2008 to $560 million in 2009. The total dollar loss from all referred cases was $559.7 million with a median dollar loss of $575. At 65.4 percent, the U.S ranked highest for the number of perpetrators. These statistics are why Internet security and safety is critical today. The Center also reported that the unit handled 336,655 complaints in 2009.

The challenge is that malware works fast in stealth mode, and data-stealing malware can cause damage via one click which can compromise a company's reputation or personal confidential data.

Here are some basic guidelines for safe computing online:

1.) Always install Microsoft's critical updates - the monthly software updates designed to patch security vulnerabilities and threats. It is critical to install monthly updates from Microsoft.

2.) Make sure you have installed anti-virus/spyware/malware protection. Watch for cloud technology to automatically stop viruses and spyware before they reach your computer.

3.) Add a Firewall to block a hacker's attempts to access your computer. Windows XP, Windows Vista and Windows 7 all have firewalls which block and filter Internet traffic so harmful programs like viruses and spyware don't have access.

4.) Install Opera,Firefox, or Chrome as a second browser because most spyware and viruses target Internet Explorer. Often a virus is designed to keep Internet Explorer from accessing the Internet when a computer becomes infected with spyware.

5.) Always disable Java Script - viruses and spyware are using Java script to launch attacks so you should disable or at least change the browser setting to ask before running Java script.

6.) Do not ever open email attachments from someone you don't know - as it is a fact that most all viruses infect computers through email attachments. One should click on the attachment and delete the email immediately whenever you get an email from someone you do not know.

7.) Do not install programs off the Internet. The Internet is full of websites designed to trick you into downloading spyware and viruses. When you see random pop-ups from an Internet site asking you to install something, especially a ".exe" file - just say no.

8.) Don't forget to back up all your critical data - bills, banking or tax information, school work, email or other critical information on your computer. Create a weekly backup by using an external hard drive, a flash drive or subscribe to one of the many online backup services.

Traditional content security solutions are simply not fast enough to keep pace with the thousands of new attacks being created on an hourly, basis. But there are exciting new technologies that can assist consumers and enterprises alike in fighting the war against cybercrime.

Kristin Gabriel is a marketing professional working with Trend Micro Titanium Internet Security for Netbooks which uses cloud technology to automatically stop viruses and spyware before they reach your computer. Real-time updates keep PCs protected from the latest online threats. Using less than half the disk space and memory of traditional security products, Titanium is light on system resources so computers run faster. Visit: http:/www.trendmicro.com.