Armen Computing Ltd. has released a major security update to it's TradeLog trade and tax accounting software program. Version 14.5 now utilizes encrypted data files for storing users brokerage account trade history and tax information. File encryption prevents unauthorized persons from viewing any of the data contained in a TradeLog tax file.
Our previous TradeLog data files were created and saved as plain text, and therefore could easily opened by any text processor such as Windows notepad. Brokerage account login data was encrypted, but could possibly be viewed by another TradeLog subscriber if they gained access to the file. However, the only way for someone to gain access to the file was if a user sent or emailed the file, as files are stored on the user's PC and are not stored on our server. This update fixes such security risks even though the risks were relatively low.
The registration code of the TradeLog user who created the tax file is now encoded in the encrypted file, so the only TradeLog user who can open that file is the user who created it (ie: the one with the matching reg code).
Additionally, users can password protect their files for an even greater level of file security. Therefore, no other TradeLog user can open your file, even if they somehow got a copy of it.
This represents the most robust security measures of any trader tax software program on the market, and we trust that it will lessen any concerns that our users have about the security of their precious brokerage trade history data.
David Eich, President
Armen Computing Ltd.
Please note: This information is provided only as a general guide and is not to be taken as official IRS instructions. Cogenta Computing, Inc. does not make investment recommendations nor provide financial, tax or legal advice. You are solely responsible for your investment and tax reporting decisions. Please consult your tax advisor or accountant to discuss your specific situation.