Yet another pension fund corruption case has been brought against a portfolio manager, this time by U.S. Attorney Preet Bharara, against New York State Common Retirement Fund official Navnoor Kang. Kang allegedly steered business from the state's pension fund toward certain brokerages in return for drugs, strippers, cash and other gifts. If the accusations are true, it's just one more instance in a string of recent pension fund corruption cases. The Wall Street Journal reports: On Wednesday U.S. Attorney Preet Bharara announced the indictment of New York State Common Retirement Fund … [Read more...]
Are Your Investment Accounts Safe From the Plague of Hackers?
It's the last day of Cyber Security awareness month, and hopefully you have spent some time considering the state of your current cyber-risks. Are your passwords strong enough? Are the systems you're using secure? Are the people you're working with competent enough to protect your data? Here, Fidelity gives investors a checklist of their own to focus on improving cyber security. Online security is a shared responsibility. We believe that having a close partnership with you helps keep you safe, which is why we encourage you to enhance our security measures by taking some actions on your … [Read more...]
Is Your Valuable Credit Card Information at Risk Right Now?
October is Cyber Security awareness month , and I've been writing (read here, here, and here) that you must protect yourself from hackers and scammers. Today The Wall Street Journal published an article warning about the dangers of "no-card-present" online transactions that could drain your credit card balance. After a massive industry undertaking to secure point of sale transactions with chip enabled credit cards, hackers have moved to the one place where there are still no chip readers, the internet. Robin Sidel writes for the Journal: As a result, online merchants and the card industry … [Read more...]
Is Your Home Security Camera actually Spying on You?
It's a hard thought to swallow, but could your home security system be turned against you? What about your web-connected baby monitor? Have you changed the passwords on these devices since you purchased them? If not, Hannah Kuchler writes for the Financial Times that you may be leaving yourself open to cyber spying, or having your devices hijacked, and used against others in what are known as Directed Denial of Service attacks. Make sure you change default passwords on all your internet connected devices. October is Cyber Security awareness month, and there's no better time than now to check … [Read more...]
Cyber Attacks: Are You Safe with Vanguard?
October is Cyber Security awareness month. There's probably no online account more important for you to protect than your retirement nest egg. It's your life's savings, and everything you've been working toward for decades. See here how Vanguard protects clients' data and accounts from cyber attack. … [Read more...]
October is Cyber Security Month: Advice from Fidelity
October is National Cyber Security Awareness Month, which I discovered logging in to my account this morning at Fidelity Investments. I thought you’d like to read their recommendations. The easiest part of protecting yourself is choosing a rugged, unique password. By rugged I mean a password that isn't something easily guessed by a hacker's word-list. Examples of easily guessed passwords that are used often are things like "password," "1234," "default," or "1111." Read more below from Fidelity about protecting your accounts with a strong password. Do not reuse passwords Make sure you use … [Read more...]
Is Your Bank Vulnerable to ATM Cyberattacks?
Your investment success/survival is a series of smart decisions. For example, using a chip-enabled ATM and/or credit card bolsters your line of defense against cyber attacks. On our recent trip to Paris I was reminded how far ahead Europe is when it comes to chip readers. They are the norm—as you insert your card into the portable reader that they bring to your table. But that’s not the case here in the U.S. where waiters take your card from you (possibly copying it) and it’s swiped without you being present. Chip tech in the U.S. is becoming more prevalent, but can still be a slow process. … [Read more...]
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