Identity Theft

Identity Theft In Forex Trading

Protect Yourself From Identity Theft In Forex Trading

Everyone loves a hot tip. And one day in your favorite financial forum or newsletter, you see that someone has posted about a cant loose stock overseas. You read about the details in a link set up onsite, on a forum post or on an email. It looks great!

But hold on. The chances are very high that hot stock tip is not about foreign exchange trading (forex trading). It is most likely a phishing email, designed to steal your money and most likely your identity. Forex trading is not all bad. Here are some easy tips on how to protect yourself from identity theft in forex trading.

Know Who You Are Dealing With

If the company overseas has a phone number, dial it. If it does not ring or the person on the other end of the line is clueless to what you are talking about, thank them and hang up. Checking up on a company before you lay any money down is a great way to protect yourself from identity theft in forex trading.

Dont want to make a long distance phone call? Then you can go to the website of the Us Securities and Exchange Commission (the SEC) and see if the company in your tip has filed Form D.

Also, if the tipster uses an alias or not a full name, chances are he or she is one of the many fraudsters committing identity theft in forex trading.

Keep Your Computer Security Up To Date

Sometimes the online criminal will not wait for you to send him or her your money or personal data. They will imbed a virus or worm to go through your computers hard drive and see if it can send the info back to their Mr. Big. Many instances of identity theft in forex trading has been from downloading the virus along with the email. To protect yourself from identity theft in forex trading or any other activity on the web, be sure you have the most recent version of

a spam filter

a firewall

an anti-virus software

anti-spyware.

Dont get all of these from the same company. No one company can protect you from all the identity theft in forex trading or other web places. But many of these services are offered safely for free on the web, such as Cyber Defender, Panda and Bulldog. The free versions come with small, discreet ads all imbued in them that keep your private data to yourself. There are also low cost, ad-free versions available.