Hey Guys, Its been So long that I posted a Blog right?
My friends were asking me, what is trading and how it is going to benefit us and how its going to impact us. So I thought of writing a blog on that.
Let’s see what is Trading and Its Cyber Risks.
Before we proceed with risks. We should know what is trade and its basics.
We will not discuss anything more about how to do trade or how to invest.
What is Trading?
Trading is an action of Buying and Selling in attempt to gain something basically for surviving in ancient Times.
In ancient Times Trade Happens like these
Commodity to Commodity : Goods to Goods – Wheat – Potato
Commodity to Money to Commodity : Wheat – Money – Potato
Money to Commodity to Money : Buy a share – Save it for sometime – After Price Increases, Sale it.
This is what happens in modern day Trading, it works with the third Model. Money – Commodity – Money
So how we normal people can be a victim.?
We average people are falling as victim, due to urgency for money. Financial Independence, Curiosity, Greediness.
People are Gaining from it, Why don’t I?
and Finally Advertisements. Yes, we got advertised from everywhere by these various trading applications.
I am not saying that trading is bad. It is good when you know what you are doing and how you are doing. Advertisements shows that tapping on a button will give you money is total madness. Don’t Fall for it.
You will be the Loser one day
Cyber Risk Associated
This modern day Trading is evolving into Virtual Currency too. That’s Too dangerous. When you are dealing with these kind of trading and Applications you should know whom you are dealing with. Stock broker, Trader, Buyer, Share and Everything. If you are not sure about all these, you will end up cheated.
They may ask you to buy Bitcoins. They may ask you to buy shares virtually. You won’t get anything in return. Simple You should look for transparency. People use Words of Desire against You, That you will be a Millionaire Next year.
It’s not only about money, It’s about the information that you share with them. Your Personal Information, Your Financial Information, Your Privacy may get violated, Your Private Space may get breached by installing some third party Applications
If you try to find them once you end up with nothing, you can’t get closer to them in this internet world. Catching a Criminal with All these laws and legislations around us is not easy.
We have to be aware of all risks.
For the Normal People:
Don’t get in Blindly, Its a Huge Ocean. Don’t get Sunk too early. Take time and invest Properly.
How to Overcome this?
If you can’t find some applications in your official Application store(playstore, istore), Then its not good for you. Don’t Run behind the Advertisements.
If Wesay it in Rajnikanth (Actor) Style : “You Won’t get Anything without Hardwork, If you get some it won’t stand for days”.
For the Legitimate Trading Companies and Officials.
Attackers are Targeting Trading Companies directly to seek direct financial Gain. You are advised to Keep your customer’s data secure and safe. so People Can trust you.
You should go with Proper Security Auditing, Complying with Standards Such as SOX, Risk management. Don’t fail to do so.
Securium can Help you with this Security Auditing and Risk Management. You can Reach out to us.
So that’s it guys. Hope you got some informative content today.
See you again with another informative one.
Bye
Author:
Sam Nivethan V J
Security Analyst & InfoSec Trainer
