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The FSC urges investors to be alert for phishing scams

Recently, several cases revealed that the cyber attackers intended to send spoofed text message to trick investors to login in the fake websites of securities firms so as to steal sensitive personal data. The FSC advises the investing public to be on heightened alert to such phishing scams and better not to tap the web linkage from a text message of unknown sources. Once any suspicious message was received, the FSC guides the investing public the first step to confirm authenticity by making a call to the securities firms or to the anti-fraud direct line 165. In addition, the Financial Information Sharing and Analysis Center (F-ISAC) takes in charge of the dissemination of the phishing scam cases for local financial institutions. The investing public may be advised to visit it for more information. 

To safeguard the cybersecurity for online trading, the FSC urges the Taiwan Stock Exchange to supervise the securities firms to implement the following measures targeting clients’ online trading accounts: 
1.  Maintain dual-factor login authentication. It may include at least two of the following, trading certificate, registered device, one-time password (OTP), or biometrics of fingerprint or face recognition. 
2.  Facilitate the login password strength control. The high quality password shall be a mix of characters and numbers.
3.  Watch and analyze the daily records of client or non-client login failures, and ensure the compliance in accordance with the provision “Establishing Information Security Inspection Mechanism for Securities Firm”.

The FSC reminds the investing public to stay alert for online frauds. The FSC will keep supervising securities firms in the development of internal control to safeguard the online trading service rendering against cyberattacks. 

For more information:
Contact: Doris Lo, Section Chief of the Securities Firms Division. Securities and Futures Bureau of the FSC at 886 2 27747286 or Email us using the online form
FSCMAIL
 
Visitor: 437   Update: 2021-05-20
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