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Trading Online? Steps to Take to Avoid Getting Phished

From an IT manager’s perspective, any employee using such a mobile app on a phone they also use for business opens up risks to the corporate network.

Sam Bocetta

December 18, 2019

1 Min Read

Technology is more accessible and affordable than ever, levelling the playing field in everything from education to ecommerce. One of the latest innovations is in the field of finance and investing. One sector of the fintech industry employs machine learning algorithms that can predict stock performance and make recommendations.

The fact that many of these trading apps are mobile puts your financial future squarely into your own hands. However, it also makes your information accessible to others if you don't protect yourself from phishing exploits. From an IT manager's perspective, any employee using such a mobile app on a phone they also use for business opens up risks to the corporate network.

Particularly worrisome is spear phishing directed at a specific person. According to a study conducted by Iron Scales, 77% of these attempts are launched at 10 or fewer inboxes. The subject line and message mention you by name and include details that they've found on social media or professional profiles. Often, the message purports to be from a colleague or someone within your organization. They may want you to check out a work- or travel-related website or ask you to wire money to cover an emergency.

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About the Author(s)

Sam Bocetta

Security Analyst

Sam Bocetta is a freelance journalist specializing in US diplomacy and national security, with emphases on technology trends in cyber warfare, cyber defense, and cryptography. Previously, Sam was a defense contractor. He worked in close partnership with architects and developers to identify mitigating controls for vulnerabilities identified across applications.

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