TOP DRAWER ARTICLE

Online Safety for Investors
by
HL Carpenter

Do you enjoy the convenience of investing online? If so, here’s a question: which of the following precautions is the most helpful in protecting your investment information?

1. Long passwords containing letters and numbers that you change frequently.

2. Logging out of a site using the log-out button instead of simply closing your web browser.

3. Not accessing personal financial information via public computers and wireless hotspots.

4. Using anti-virus and anti-spyware software together with a firewall.

Think they’re equally important? You’re right. All these safeguards can help protect your personal information.

Additional precautions include:

• Deleting emails requesting personal information. Unencrypted email is not secure and legitimate financial sites never ask for personal information this way.

• Always checking that a site is secure. Indicators include a closed padlock in your browser’s status bar and/or a web site address ending in “s” (such as https).

• Keeping security software updated. Hackers, phishers and other Internet thieves change tactics quickly. Download the latest updates to your security programs on a regular basis.

If you’re interested in learning more, the government initiated a program called On Guard Online to help you become knowledgeable about online safety. A survey conducted prior to the program’s launch showed most people agreed that keeping their online information safe was a top priority, but many did little to protect themselves. That could be a costly mistake.

Employing the same common sense and vigilance you use in all your financial dealings is the best way to take control of your online investing experience.

Originally published August 2007.

Last update: December 30, 2009