FINRA Issues Cybersecurity Investor Alert

Stockbroker Law - Wednesday, April 01, 2015
FINRA Issues Cybersecurity Investor Alert

On February 3, 2015, FINRA issued an investor alert, entitled “Cybersecurity and Your Brokerage Firm,” outlining the essential questions investors should ask that brokerage firms regarding the safeguarding of their personal information and assets. The alert cautions investors to be aware of security steps associated with password and PIN numbers and the need to safeguard this information, and also discusses the interface investors might encounter when accessing their accounts from differing computer devices, such as a home desktop computer versus a mobile device.

The alert also recommends that investors not use the same password for multiple accounts and that investors periodically change their passwords, use up-to-date firewall and anti-virus programs, and make sure that they formally log out of all on-line sessions, once they have finished reviewing accounts on-line.

The alert also warns investors of emerging sophisticated phishing techniques and e-mail scams designed to lure investors to provide brokerage account information, passwords and PIN numbers, Social Security numbers, and other types of confidential information.

The Law Offices of Timothy J. O’Connor practices securities law in the Tri-City Capital District of Albany, Schenectady and Troy. We also represent victimized investors throughout the rest of New York State, including Buffalo, Binghamton, Rochester, Syracuse, Watertown, Utica, Kingston, Poughkeepsie, New York City/Manhattan, Long Island, and everywhere in between, as well as in the surrounding states of Massachusetts, Vermont, New Hampshire, Connecticut, and New Jersey.

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