KUALA LUMPUR (May 3): The breach of online trading platforms on April 24, which led to unauthorised trades valued at millions of ringgit, is only the latest and biggest attack Malaysia has experienced.

It was not the first, and according to cybersecurity experts The Edge talked to, it will certainly not be the last.

The incident has cast a spotlight on the security of online trading platforms.

While there could never be total security when it comes to digital transactions, cybersecurity experts point out that online trading platforms have lower digital security standards compared with those from banking institutions.

Should online trading platforms adopt multiple-factor authentication or even biometric authentication? And what about having a standard operating procedure when breaches occur?

Read the story on how the shares and warrants of Bina Puri Holdings Bhd (KL:BPURI) traded on April 24, as well as the account of a victim of another online trading security breach that took place more than a month earlier.

In the cover story for the May 5 edition of The Edge Malaysia weekly, we also speak to cybersecurity experts to understand the subject matter.

Also, what might be the implication on Malaysia’s capital markets if unauthorised trading activities were to become a frequent occurrence, involving more counters and causing bigger losses?

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