Tuesday, January 27, 2015

Cyberthieves are After Your Account Data

Much of the malware that hackers use isn't detectable with antivirus software nowadays.
Chief Technology Officer Lou Steinberg is devoted to ensuring that TD Ameritrade, one of the top five online stockbrokers in IBD's third annual survey, doesn't become easy prey.
Stockbrokers continuously look to upgrade their battery of 
cyberweapons to guard against onsite devices as well as 
Internet-based breaches.
His cybersecurity team constantly examines ways to make it too hard and costly to penetrate the online brokerage's defenses. But, he admits, even if TD Ameritrade (NYSE:AMTD) maintains a 99.9% success rate, cybercriminals will exploit the tiniest weakness.
"There's a bit of something called 'co-evolution' going on that says, 'When lions get faster, gazelles get faster too,'" Steinberg said. "The lions get faster because the slow lions starve."
The best online brokers have to be on guard against cybercrime. The industry became aware of rising dangers even before a run of high-profile security breaches last year that included a stunning attack on JPMorgan Chase (NYSE:JPM), which touched more than 83 million households and businesses.
Online brokers, fund managers, other financial institutions and companies listed on stock markets are all targets, the Securities and Exchange Commission and federal law enforcement officials warned last year.
Read the rest of the story HERE.

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