Bank of China (Hong Kong) Limited ("BOCHK") is one of the largest banking groups in Hong Kong. Since 2005, BOCHK has partnered with Digi-Sign Certification Services Limited ("Digi-Sign") to launch the BOC Corporate e-Certificate service, for enhanced online security. In 2007, Digi-Sign further extended certification services to Nanyang Commercial Bank and Chiyu Bank, both members of the BOCHK Group.

Different forms of online fraud

Phishing and Trojan horses are frequently used by online fraudsters. Fraudsters can use fake email addresses to send emails to customers, encouraging access to fake websites through embedded hyperlinks. In this way, their personal and bank account information, like internet banking login names and passwords, are stolen. Trojan horses allow impostors to install destructive software in personal computers once customers accidentally access the websites attached in emails, or browse infected sites through advertisements. In this way, customers' personal information will be stolen.

From June 2004, the local banking industry has employed two-factor authentication for high-risk internet banking transactions. Among various methods, digital certificate is the only legal binding two-factor authentication solution that shares the same legal status as physical signatures, in compliance with the Electronic Transactions Ordinance that assures the non-repudiation of an electronic transaction. Moreover, it is recognised by an increasing number of countries according to their respective digital signature laws.

Digital Certification Systems for enhanced security

Digital certificates provide online identities for bank customers, with the greatest assurance of security. To echo the recommendations of Hong Kong Monetary Authority regarding the application of two-factor authentication for high-risk transactions, BOCHK appointed Digi-Sign to customize a brand new online security measure in 2005, known as "Digital Certification for CBS Online".

The main purpose of "Digital Certification for CBS Online" is to verify the identities of online users. Powered by a range of security measures, corporate customers can thus conduct fund transfer and remittance with ease. For instance, if a staff member wants to transfer fund for his company, he can place a transfer order via online banking website. The system will require him to provide the digital certificate for verifying his identity. Then the manager can log in and use the company's digital certificate to verify the information, in order to authorise and place withdrawal orders. As such, the entire transaction can be completed in a safe and reliable manner.

What's more, CBS Online comes with a wide range of advanced online security features, including password confirmation, automatic disconnection of online login due to inactivity within a designated period, and 128-bit SSL encryption, an internationally recognised standard.

Two portable certificate storage devices offered

To meet the diverse needs of BOCHK's corporate customers, both USB security tokens and USB flash disks are available for them to choose from. Best of all, these devices also minimise the risk associated with the migration and operation of digital certification.

The security token is a portable secure key that allows bank customers to conduct online transactions with ease. It stores digital certificates safely in support of the generation of digital signatures without any additional card readers for greater portability. The use of a security token ensures a digital certificate that will be fully protected within the device at all times, in compliance with the highest level of international standards. With such a device, corporate clients can conduct online transactions even outside Hong Kong in a secure and convenient environment.

Digi-Sign has also introduced USB flash disks with the bank's logo and service hotline printed on the disk to accommodate customers' enquiries. Since the collaboration between BOCHK and Digi-Sign in 2005, digital certificates have been issued to the majority of CBS Online customers. In line with BOCHK's growing presence in Mainland China, Digi-Sign will continue to provide more comprehensive and diverse online security services to its customers.