Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: nonrev	8/22/2007 8:39:25 AM
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PENNTRADE comes up with system designed to loose customers …. Has anyone ever seen a worse authentication plan? Hope your at your phone of record when you want to trade cause you won’t be able to trade anywhere else, like at a wireless café, or airport…overseas, at a friends house anyplace away from the phone number they have on record…… What are they thinking? ……………………………… PennTrade will soon add new security measures to help safeguard your account. One of these enhancements will change the way you log in to your account. In the very near future we'll start using what is called "two-factor authentication" before you can trade. It works like this: After you log in with your user name and password to start trading, we'll send an immediate robotic call to your telephone with a second randomly generated password. Then you'll log in with that also. With two-factor authentication, our security system can double-check your identity to be sure it's really you -- and not a thief trying to raid your account. Why are we adding this new safeguard? Because criminals are a growing menace to online financial accounts. In one scary new scheme, computer crooks steal customer log-in credentials -- right from the investor's own computer. Brokerage firms can't guard against this since the break in happens on your computer, not theirs. Crooks sneak online spyware or viruses into computers to record the keystrokes you use for user names and passwords. Then they steal your identity electronically as fast as a pickpocket lifts your wallet. Later, they log on to your account using the valid log-in data that they stole from your computer and use your cash or stocks to buy piles of some thinly traded penny stock they own and are selling from an account in another brokerage. As they sell the stock to you, the price climbs higher and higher and they make more and more money. They send the proceeds offshore or to straw man accounts and then disappear. The bottom falls out of the stock and the innocent victim -- whose only mistake was not running effective anti-virus and anti-spyware programs on his computer -- may be left holding a nearly worthless security. Some accounts at other firms have lost many thousands of dollars this way. The added second step in our new two-factor authentication process boosts security and will help prevent something like this from happening to you. You can learn more about PennTrade's new two-factor authentication process by clicking here. ......... nonrev

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