What Happened to Hong Kong Online Share Trading Platforms? 

12 licensed corporations reported 27 cybersecurity incidents in 2016. Most of which involved hackers gaining access to customers’ internet-based trading accounts with securities brokers resulting in unauthorized trades totaling more than $110 million.

Source: Securities and Future Commission 

The Problems
Inadequate Password Policy 
 
Single-factor authentication are too simple to be cracked leading to the proposal of 2FA, including one time password, digital certificate, hard and soft token.
Low Awareness on Cybersecurity
 
Use of public network/ compromised electronic devices to access account or carelessness such as failure to log off after using public/ shared device. Sensitive information are not encrypted when stored or in transmission. 
Insufficient Cybersecurity Resources
 
2015 PwC survey found that survey respondents with revenues of less than US$100 million only spent 0.73% of revenue on information security. 
i-Sprint solutions meet the new cybersecurity requirements proposed by SFC for internet trading, including: 
Flexible Business Models
Active User License Model

License will be charge for active users only, a customised model catered for trading platform with many idle users.
Multi-Device License Model 

1 license supports multiple devices.
Cloud Subscription Model

Subscription-based and no installation required, therefore fast to deploy. Highly recommended for SME. 
Additional Security Features from i-Sprint Solutions: 
  • Jail Break and Root Detection
  • Use of Secure Enclave/ Secure Element for Hardware Level Key Protection
  • Runtime Application Security Protection (Optional) 

Find out from us how your online trading platform can meet the new cybersecurity requirements.