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Internet Security - Investing Online:
How to Use the
Internet to Invest Wisely and Avoid Costly Mistakes
To invest wisely and avoid costly mistakes online:
Secure Your Information
The Internet serves as a powerful tool for investors. But
hackers and identity thieves can wreak havoc on your personal
finances unless you take steps to protect the security of
your account numbers, passwords, and PINs. And investment
opportunities that sound like no-brainers all too often turn
out to be frauds. OnGuard
Online suggests these tips to help you invest
wisely online:
Protect your personal information. It’s valuable.
If you get an email or pop-up message asking for personal
information, don't reply or click on the link in the message.
Email is not a secure way to transmit personal information,
and you don’t want to risk downloading a virus or piece of
spyware that can log your key-strokes when you type in an
account number, password, or PIN. The safest course of action
is not to respond to requests for your personal or financial
information. If you believe there may be a need for such information
by a company with which you have an account, contact that
company directly in a way you know to be genuine. Don't access
your online investment account until you have checked for
indicators that the site is secure, like a key or closed padlock
icon on the browser's status bar or a website URL that begins
“https:” (the “s” stands for “secure”). Unfortunately, no
indicator is foolproof; some scammers have forged security
icons.
Protect your passwords. Keep your passwords in a secure
place, out of plain view, and avoid storing them on your computer.
Don't share your passwords on the Internet, over email, or
on the phone. Your Internet Service Provider (ISP) should
never ask for your password. And if you access your accounts
in a public place, be sure to position yourself so that no
one can see your hands or your screen as you type your PIN
or password.
In addition, hackers may try to figure out your passwords
to gain access to your computer. You can make it tougher for
them by:
- Using passwords that have at least eight characters and
include numbers or symbols. The longer your password is,
the tougher it is for a hacker to discover it.
- Avoiding common words: some hackers use programs that
can try every word in the dictionary.
- Not using your personal information, your login name,
or adjacent keys on the keyboard as passwords.
- Changing your passwords regularly (at a minimum, every
90 days).
- Not using the same password for each online account you
access.
Use anti-virus and anti-spyware software, and a firewall,
and keep them up-to-date. These programs are a must-have
if you make financial transactions online. Look for anti-virus
software that removes or quarantines viruses, and for anti-spyware
software that can undo changes spyware makes to your system;
check that both programs will update automatically. If your
firewall was shipped in the "off" mode, be sure to turn it
on and set it up properly. It’s also important to keep your
operating system up-to-date with the latest security patches.
Use a Security Token (if available). Using a security
token can make it even harder for an identity thief to access
your online investment account. That's because these small
number-generating devices offer a second layer of security
— a one-time pass-code that typically changes every 30 or
60 seconds. These unpredictable pass-codes can frustrate identity
thieves.
Use Extra Caution with Public Computers or Wireless Connections.
Avoid using public or other shared computers to access your
financial accounts online. If you do use one, when you finish
a session, log off completely, delete your “temporary internet
files,” and clear your Internet history. Many cafes, hotels,
airports, and other public establishments offer wireless networks
for use by their customers. These “hot spots” are convenient,
but they may not be secure. Ask the proprietor what security
measures are in place. Regardless, if you have personal, financial,
or other sensitive information on your computer, you may decide
that accessing your online investment account — or any account,
for that matter — through a public wireless connection isn't
worth the security risk.
Log Out Completely. Closing or minimizing your browser
or typing in a new web address when you're done using your
online account may not be enough to prevent others from gaining
access to your account information. Instead, click on the
"log out" button to terminate your online session. In addition,
don't permit your browser to "remember" your username and
password information. If this browser feature is active, anyone
using your computer will have access to your investment account
information.
Avoiding Investment
Scams Online
To avoid Internet scams, OnGuard Online suggests the following:
- Independently Verify Claims. Never, ever, make
an investment based solely on what you read in an online
newsletter, bulletin board posting, or blog — especially
if the investment involves a small, thinly-traded company
that isn't well known. It's easy for a company or its promoters
to make grandiose claims about new product developments,
lucrative contracts, or the company's financial health.
Before you invest, make sure you've independently verified
those claims. Get started by turning to unbiased sources,
such as the U.S.
Securities and Exchange Commission (SEC), your
state
securities regulator, and securities industry
self-regulatory organizations (including
FINRA, Amex, and Nasdaq).
- Do Your Homework. Offers to sell securities must
be registered with the SEC or eligible for an exemption
— otherwise the offering is illegal. To see whether an investment
is registered, check the SEC's EDGAR
database and call your state
securities regulator for more information about
the company and the people promoting it. The fact that a
company has registered its securities and files reports
with the SEC doesn't guarantee the company will be a good
investment. Likewise, the fact that a company hasn't registered
and doesn't file reports doesn't mean the company is a fraud.
But many investment frauds, including online scams, involve
unregistered securities — so always investigate before you
invest.
- Be Skeptical of Self-Provided References. Fraudsters
will falsely assure you that an investment is properly registered
with the appropriate agency and purport to give you the
agency’s telephone number so that you can verify that “fact.”
Sometimes they will give you the name of a real agency —
other times they will fabricate one. But even if the agency
does exist, the contact information they provide invariably
will be false. Instead of speaking with a government official,
you’ll reach the fraudsters or their colleagues — who will
give the company, the promoter, or the transaction high
marks.
- Thoroughly Check Out Promoters and Company Officials.
Many fraudsters are repeat offenders. Whenever the SEC sues
an individual or entity, the agency issues a "litigation
release." Litigation releases going back to 1995 are available
on the SEC’s website, www.sec.gov — simply run
a search for the promoter, his or her company
or newsletter, the company being touted, and its officers
and directors. You also can check the licensing and disciplinary
history of the person or entity promoting the opportunity
by using FINRA ’s free BrokerCheck
service or by calling your state
securities regulator.
- Find Out Where the Stock Trades. Many small, thinly-traded
companies cannot meet the listing requirements of a national
exchange. The securities of these companies trade instead
in the "over-the-counter" market and are quoted on OTC systems,
such as the OTC Bulletin Board or the Pink Sheets. Stocks
that trade in the OTC market generally are among the most
risky and most susceptible to manipulation.
- Watch Out for High-Pressure Pitches. Beware of
promoters who pressure you to buy before you have a chance
to think about and fully investigate an investment opportunity.
Don't fall for the line that you'll lose out on a "once-in-a-lifetime"
chance to make big money if you don't act quickly. Remember:
if an opportunity sounds too good to be true, it probably
is.
- Consider the Source and Be Skeptical. Whenever
someone you don't know offers you a hot stock tip, ask yourself:
Why me? Why is this stranger giving me this tip? How might
he or she benefit if I trade? Never forget that the person
touting the stock may well be an insider of the company
or a paid promoter who stands to profit handsomely if you
trade.
Where to Turn for
Help if You Run Into Problems Online
If you experience problems with your online investment account
— or if you encounter an investment scam — please send your
complaint in writing to the SEC using the agency’s Online
Complaint Center. Include as many details as possible,
including a summary of the problem and the names, addresses,
telephone or fax numbers, and email addresses or websites
of any person or firm involved. If you believe your personal
information has been misused, file a report about your identity
theft with the police, and also file a complaint with the
Federal
Trade Commission. For more information on investing
wisely and avoiding costly mistakes, visit the Investor Information
section of the SEC’s website at www.sec.gov/investor.shtml.
Eagle Internet Security
Recommendation - Symantec Software
Eagle Business Solutions, Inc. is an Authorized Symantec
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Eagle Internet Security
Recommendation - ZoneAlarm Internet Security
Internet Security
Recommendation
Eagle Business Solutions, Inc. is an Authorized ZoneAlarm
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Why ZoneAlarm Solutions for your Small Business? The ZoneAlarm
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Review ZoneAlarm internet
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Your Email.
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information on Spyware: How To Recognize Spyware, Avoid It,
And Delete It!
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on Wireless Security: How To secure Your Wireless Network.
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