Monday, August 15, 2005
NASD warns investors about wireless risks
The National Association of Securities Dealers recently issued an Investor Alert which addresses, among other things, the need for consumers to exercise caution when connecting to brokerage accounts from wireless hotspots.
Financial institutions who haven't done so already may want to think about giving their online banking customers similar warnings about the risks of evil twinning (sometimes called WiPhishing), sniffing, and other wireless dangers.
Also, the NASD issued a reminder to its members of their obligation to safeguard customer information. Page 3 of the bulletin outlines the risks posed by wireless technology and remote access. Read the bulletin.
NASD's Investor Alert contains the following suggestions for consumers about using wireless:
First, follow general best practices for securing any Internet-connected computer:
Keep your computer up to date with the latest security updates
Install a firewall and anti-virus software on any laptop or PC with wireless connectivity
When accessing your personal financial information online, you should have a secure web connection at all times - the web site address should start with "https://" instead of "http://" and you should see a secure symbol such as a closed padlock or key on the status bar in the lower right part of your screen
If authorized, use a Virtual Private Network (VPN) which offers protections that standard networks do not
Next, take some special precautions when connecting to a wireless network:
When in any doubt about the security of a hotspot, don't use it for conducting confidential business
Shut off wireless connectivity or remove the wireless network card if you leave your computer unattended
Disable wireless ad hoc mode. This is a setting that allows all wireless devices to find and communicate with other wireless devices within range. Disabling this mode prohibits networks that you didn't create from using your wireless software, and will also prohibit any unknown or rogue connections
Disable file and printer sharing capabilities when visiting hotspots
Read more about the NASD's alert to investors here.
The National Association of Securities Dealers recently issued an Investor Alert which addresses, among other things, the need for consumers to exercise caution when connecting to brokerage accounts from wireless hotspots.
Financial institutions who haven't done so already may want to think about giving their online banking customers similar warnings about the risks of evil twinning (sometimes called WiPhishing), sniffing, and other wireless dangers.
Also, the NASD issued a reminder to its members of their obligation to safeguard customer information. Page 3 of the bulletin outlines the risks posed by wireless technology and remote access. Read the bulletin.
NASD's Investor Alert contains the following suggestions for consumers about using wireless:
First, follow general best practices for securing any Internet-connected computer:
Keep your computer up to date with the latest security updates
Install a firewall and anti-virus software on any laptop or PC with wireless connectivity
When accessing your personal financial information online, you should have a secure web connection at all times - the web site address should start with "https://" instead of "http://" and you should see a secure symbol such as a closed padlock or key on the status bar in the lower right part of your screen
If authorized, use a Virtual Private Network (VPN) which offers protections that standard networks do not
Next, take some special precautions when connecting to a wireless network:
When in any doubt about the security of a hotspot, don't use it for conducting confidential business
Shut off wireless connectivity or remove the wireless network card if you leave your computer unattended
Disable wireless ad hoc mode. This is a setting that allows all wireless devices to find and communicate with other wireless devices within range. Disabling this mode prohibits networks that you didn't create from using your wireless software, and will also prohibit any unknown or rogue connections
Disable file and printer sharing capabilities when visiting hotspots
Read more about the NASD's alert to investors here.
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