Tuesday, April 03, 2012

5 more securities trading firms adopt 2FA system

SINGAPORE: Five more securities trading firms have adopted the national two-factor authentication (2FA) system.

AmFraser, CIMB Securities, DMG Securities, Lim & Tan Securities and UOB Kay Hian join Maybank Kim Eng Securities and Phillip Securities to offer enhanced e-security transactions for investors.

The five companies will activate the OneKey 2FA device for online services according to their own schedule.

The system requires a user who accesses his account or initiates a transaction with a regular password, to provide an additional one-time password received via a token or on a handphone, in order to complete the transaction.

Assurity Trusted Solutions, the operator of the system, said with the latest addition, a few hundred thousand users will be able to enjoy the enhanced security and convenience of using OneKey.

Ms Melinda Sam, Chief Executive Officer of the Security Association (Singapore) said the adoption of OneKey by 80 per cent of Singapore's retail stockbroking firms is most timely as "more and more investors are IT savvy and trading online."

She added: "Online securities trading is becoming more common. Ten years ago, less than 10 per cent of investors traded online. Today, more than 50 per cent do so. However, with convenience comes risk and OneKey helps to mitigate such risks. We encourage investors to adopt 2FA for the additional peace of mind in their trading."

View the original article here

Source From Channel News Asia

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