Hackers after your funds

Discussion in 'Backup and Security' started by TerryL, Mar 11, 2005.

  1. TerryL

    TerryL

    Who here has seriously considered that not only can hackers do cool stuff, but they can also deplete the online account you have.

    Sometimes paranoia creeps up and says that these brokers are waiting for us to expand our accounts before they deplete it. There are countless ways they have of doing this.
     
  2. How would they deplete it?

    Unlike credit cards, my brokerage accounts are only linked to my address or banks w/ same SS. And in the event something fraudulent takes place, it could clearly be proven.

    However, in this day and age, I also don't underestimate the hackers...
     
  3. Neodude

    Neodude

    Are you saying that Brokers are trying to deplete our accounts or hackers?

    If you are worried about Brokers depleting your account, then don't trade forex and make sure to never have more then 100k in cash inside your equity cash account, for which you are protected.

    As for hackers, consider it one of the risks that comes with all the advantages that the internet era has brought. Beats hiring an armored car to transport your money or trading over the phone.

    -Neo
     
  4. Really? Only for US citizens, or for all US regulated companies?
     
  5. Neodude

    Neodude

    I believe it is for brokers regulated in the United States by the SEC and that it applies to both corporate accounts and individual. Don't take my word for it though, always double check. :)



     
  6. TerryL

    TerryL

    Come on guys.

    wake up. Do u seriously think that it is regulated ???

    and even if it were, it is electronic. There is little if no protection.
     
  7. Neodude

    Neodude

    What you should really be paranoid about is that those dollars/euros you are holding are worth nothing since everyone went off the gold standard. Cheer up budy, hackers are the least of your problems.
     
  8. Anseld

    Anseld

    hell yea, hackers are dangerous!

    they're gonna steal all your money under your nose, man.

    you better hide your dough under the pillow or at least go to the backyard and dig up some holes to hide your wads.
     
  9. Xenia

    Xenia

  10. Yes, has been used by IB for some time.
     
    #10     Mar 11, 2005