I’ll Have a Latte, One Sugar, and No Hacker, Please

Open Wi-Fi networks, available at many cafes, airports, and other public places, have become more susceptible to cyber “hijacking” than ever before. 

Eric Butler was merely trying to prove a point when he created “Firesheep” last year, as he’s told several media outlets. He saw how loosely-guarded many Web sites were, and how easy it would be for a hacker to do some damage to an individual’s account on any number of profile-driven sites (think Facebook, Twitter, Amazon, etc.). He created this easy-to-use hacker program to simply encourage Web sites to beef up their security.

In the meantime, more than a million people have downloaded the program, according to The New York Times.

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So what is it, exactly? Firesheep is a program that can be downloaded for free and “attached” to Mozilla Firefox, a popular Internet browser.  According to Steven Hoffer, a contributor to AOL News: “Firesheep works by collecting information from Internet “cookies” — the temporary Internet file containing your username and password that a website like Facebook or Twitter will send back to a computer so users can enjoy the Web site without logging in each time they click on a new a page. Firesheep simply sends a notification each time a new user name and password is available, and entering their Facebook account is just a double-click away.”

It may sound complicated for some–but it is alarmingly simple for many.

Butler has stood by his invention. “Websites have a responsibility to protect the people who depend on their services,” he wrote in his blog. “They’ve been ignoring this responsibility for too long, and it’s time for everyone to demand a more secure Web. My hope is that Firesheep will help the users win.”

And there is a solution. Web sites, specifically account-driven sites that require usernames and passwords, need to be designed using “https” code instead of the standard “http.” This design adds layers of encryption to all the pages on a site, beyond the log-in page (which is usually the only part of a site to be encrypted). A site that has “https” code throughout its pages will have a URL address that starts with https:// instead of http://.   

Some sites are making the changes, but not all, and not fast enough. Gmail, Google’s e-mail service, has “https” code from the log-in page to any other part of the site. Facebook, on the other hand, is “rolling out” its “https” code in phases, according to PCWorld. So far, users have to opt-in to having the more secure code activated when using a public Wi-Fi network. Some worry that using “https” code throughout a Web site would slow it down too noticeably.

Whether you see an “https” or “http” URL address on the site you’re using–open Wi-Fi networks are no longer as convenient–or safe–as the public hoped they would be.

Schwab Develops Platform for Active Traders

Charles Schwab introduced theStreetSmart Edge program for active traders, which was built to “think like a trader,” and offer a more intuitive experience.  

Schwab says the platform is designed to be flexible and “to grow with a trader.” As traders develop more sophisticated skills or change investment strategies, they can add or modify the features to fit their needs. Some of the tools include:

  • Symbol Hub integrates tools including charts, news, order entry, live data, options chains, technical and fundamental research into one place.
  • Chart pattern recognition uses tested indicator patterns along with screening and charting tools to analyze historical and current market data. Built into the platform, chart pattern recognition can give traders pattern-based strategy ideas and decision support.
  • Flexible charting tools allow traders to change a chart’s style or data. A mini-chart carousel displays small charts for recently viewed ticker symbols.
  • Research is integrated into the workflow. After scanning the live data screen for a specific security or index, traders can use the “research” button to flip the screen and reveal fundamentals on the same symbol.

Kelli Keough, vice president of active trading at Charles Schwab, noted that a number of Schwab’s active trader clients have been beta testing StreetSmart Edge since the fall, and their feedback was used during development.

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