TheWealthCore.com is a different kind of trading company that puts the safety and security of all its clients first. In today’s hectic trading environment, it is easier than ever to get caught up in the moment and ride the wave of success and profitability. However, cybercrime and cyber terrorism acts are reportedly reaching their all-time highs. So, what can you do in this case? How can you protect yourself while still reaching your full potential in trading?
While the clients are focusing solely on their financial stability and improving their portfolios, it is up to the trading companies to ensure their safety and security during that entire process. Sometimes, the companies tend to go over and around the safety measures to save time, and this is where the trouble begins. By neglecting to follow through with all the regulatory requirements and guidelines, they leave an open space for cyber terrorists to come in and do damaging and malicious activities. This way, the companies and their clients are left suffering. Not to mention that the reputation of the entire trading market is put into question. So, how can all market participants make sure that this doesn’t happen? The Wealth Core has a good idea. From collaborating with law enforcement to prevent these activities to creating their own safety measures and regulatory guidelines, this company is working hard to protect all its clients.
The Widespread of Cybercrime
Cybercrime is a wide term used to describe all the malicious activities made through the use of computers and online networks. It is aimed solely at making damaging moves in order to steal data, money and other personal features that are not up for public use. Cybercrimes are usually aimed at people, companies or organizations operating online with the goal of disrupting their financial health and stability.
Cybercrime is classified differently based on the location where it’s taking place. For example, cross-border cybercrime includes activities such as espionage and financial theft. However, since the Internet does not recognize state lines, it is that much harder to address this and implement correct and useful strategies to prevent them from happening.
Protection from Cybercrime
This is where companies such as The Wealth Core come in. Trading companies are the proudest of their trading platforms. After all, this is the most visited page of every trading company, so it is no surprise that this is the main target of cyber terrorists. What can the companies do on their own to make sure this will not happen to their clients?
There are many ways to implement security measures and levels of safety into a trading platform. For starters, it is useful that the platform is regularly updated with the latest market news and developments. This helps to stop the spread of false and misleading information, which is often more damaging than it may seem at first.
Then, the trading platform also needs to be safe for use. This includes the protection of all assets that the clients are putting into their accounts, as well as their private and personal information. Identity theft is one of the most common cybercrime activities which are often difficult to address and resolve. It takes a lot of time and resources to prevent it from happening, which is why many trading companies neglect to do so. However, The Wealth Core is dedicated to making this its top priority.
The Cybercrime Damage and Consequences
To understand how often and damaging the widespread of cybercrime is, it is important to note that the annual loss to the economy is estimated at $445 billion. This is major damage to the global financial system, which is not so easy to make up for. To make this number even more representative and understandable – the Center for Strategic International Studies has estimated that 1% of the global GBP is lost each year due to cybercrime activities.
There are many types of cybercrime that are involved with the world of trading. The companies such as The Wealth Core are keeping their eyes on these classifications and creating suitable solutions for preventing each one of them.
Financial Fraud Crimes
Financial fraud is the most common group of cyber-related crimes that are often going on in the world of trading. In its definition, a financial fraud includes any type of misinformation which are purposely displayed and spread in order to mislead someone. The final result, of course, is to deprive users of their funds, which sometimes go as high as several million dollars. These are 3 of the most common activities of financial fraud:
There are also other subtypes of financial fraud crimes, which are tied by a single thread – they are all based on the use of a computer network. They include:
1. Bank fraud
Bank fraud includes the use of illegal means and channels to steal money and data through banking institutions. This is usually a difficult thing to achieve since it requires a lot of technical and hacking knowledge
Carding is a term generally used for financial fraud and theft of information and funds through the use of credit cards. This is usually done by stealing information on credit cards that their users input online – for example when doing online shopping or trading. It is also quite often done through ATM machines
3. Identity Theft
Identity theft is the activity of stealing personal information about a person in order to abuse their private data and funds or steal them for doing further cybercrime activities. It is also used for other purposes such as avoiding tax payments and other damaging activities
Extortion is a term used for obtaining private information and money thorugh coercion. It is highly illegal, but unfortunately, it is also present in all areas of finance and economy. It is also one of the most difficult cybercrimes activities to prevent
5. Theft of Classified Information
This activity is usually aimed at big institutions and corporations, sometimes even countries and their governments. It includes stealing classified information whose abuse would be damaging to entire populations.
The Wealth Core’s Contribution
So, how does The Wealth Core contribute to preventing these crimes? This company constantly revises and implements its documentation and legal guidelines to protect all its clients from the crimes listed above. This is not always the easiest thing to do. Cybercrime is specifically aimed at depositing and withdrawal payment options in trading companies since they are the window to the great amounts of money.
So, it is imperative for The Wealth Core team to carefully analyze every transaction request, no matter how much money is at stake. As a client, you will notice these efforts through their requests to provide additional documentation as proof of identity. This may seem like a hassle, but it is aimed solely for your protection! These proofs can be anything – from your ID to your last water bill that proves your place of residence.
What About Cyber Terrorism?
Cyber terrorism is a term generally used for global conduct of these damaging activities. Cyber terrorism is because it dealt with on a greater level, and usually includes the most prominent agencies and governmental bodies in this area, such as the Federal Bureau of Investigation (FBI). Cyber terrorism includes all damaging activities done through the use of information technologies in order to mislead, steal or otherwise hurt the global financial system and all its participants.
The most common activity of cyber terrorism includes the use of propaganda to scare Internet users by releasing false information about terroristic acts, as well as financial scares on the market. Cyber terrorism is often used to simply demonstrate power on a larger level against the smaller communities, and often influential individuals.
How Does the Wealth Core Stand Out?
So, all the activities we listed above are damaging to all market participants, but especially individual clients who want to try out the world of trading and see what it has to offer. It is imperative for the trading companies to provide protection at all times for them from all these moves. The greater battle against them includes working together and collaborating with authorities in order to combat all these issues on a global level. The Wealth Core is a big contributor to this mission. It seems that their efforts are just the beginning of this journey. As a client, you too can benefit from being protected under their wing through each step of your trading adventure.