Cybersecurity and Investments: A Conversation with Apricot Capital Executive Director Vachik Gevorgyan

YEREVAN, October 13. /ARКА/. October is marked as the month dedicated to raising awareness about cybersecurity. On this occasion, Arka news agency spoke with Vachik Gevorgyan, Executive Director of Apricot Capital CJSC, about essential cybersecurity rules that investors should follow.

- Mr. Gevorgyan, you are the executive director of an investment company. Why is cybersecurity also a relevant topic for investors?

Technologies are advancing rapidly and penetrating all fields, including investments. Like our company, many of our peer investment firms offer services via technology. Gone are the days when investors had to visit a broker’s office and submit a paper order to buy or sell securities. Nowadays, trading is conducted via technology, using mobile applications or web portals. This is why it is crucial for us and our clients to follow cybersecurity rules.

As a licensed financial institution, we are committed to enhancing our cybersecurity system. After undergoing an independent audit by the Austrian firm TÜV AUSTRIA this year, our company was awarded one of the most prestigious information security certifications—ISO/IEC 27001:2022. This certification confirms that our internal IT security policies, procedures, and control mechanisms align with the strictest international standards. That said, investor vigilance and awareness remain just as important.

- You mentioned vigilance. What are the key rules investors should follow to protect their accounts?

I would like to highlight two indisputable rules. First, it is important to use a long and complex password. Unfortunately, many people still use their date of birth or a simple word. The second, and perhaps most important, rule is to use two-factor authentication. This adds an extra layer of protection. Beyond a username and password, users are required to enter a one-time code sent to their phone or generated by a special application. This means that even if your password falls into the hands of third parties, they will not be able to access your account without that one-time code.

Other important steps include regularly updating applications. These updates often contain critical security improvements. We release regular updates for our Apricot Capital app as well, and it is important for users to install them, either automatically or manually. Of course, you should also be cautious when using public, free Wi-Fi networks, as they are often vulnerable.

- Phishing and fraud are major problems. How can investors protect themselves from them?

This type of fraud exploits human weaknesses, such as greed and fear. One example is phishing. It occurs when we receive emails or text messages asking us to provide login credentials or one-time codes, or urging us to take urgent action. The key is to never click on suspicious links and to always check the sender’s email address or phone number. If you have doubts, reach out to the company using the official contact information listed on its website.

- Internet advertisements often feature investment offers. How would you advise investors to distinguish between legitimate and fraudulent offers?

Indeed, while browsing online, we often come across offers of "guaranteed" high returns. In such cases, it is always recommended to verify that the company is licensed by the Central Bank of Armenia (CBA). In Armenia, only CBA-licensed banks and specialized investment firms like ours are authorized to provide investment services. A list of licensed banks and investment companies is available on the CBA website.

In general, whenever we see promises of high, "guaranteed," and "safe" returns, we should ask ourselves if such a "safe" investment is realistic. In the world of investments, risk and return are interlinked. Typically, safe investments, such as government bonds, offer lower returns than higher-risk instruments, like stocks, futures, and options. Therefore, one must remain vigilant when encountering online offers that promise "safe" and "guaranteed high returns." Under no circumstances should we share personal data with suspicious companies. As the saying goes, if something seems too good to be true, it probably isn't. 

Apricot Capital is regulated by the Central Bank of Armenia.

*The examples in this text are for illustrative purposes only. This does not constitute investment advice or a recommendation to buy or sell any specific investment instrument. The past performance mentioned in this text is not indicative of future results.-0-