Recently, ASIC-regulated broker, ThinkMarkets, has added a new feature on its ThinkPortal page to validate users using OTP verification.
ThinkMarkets implements the latest security feature in the form of OTP (one-time password) as part of its verification process to prevent clients from fraudulent attempts.
As of now, ThinkMarkets clients can request a time-sensitive verification code that will be sent to their cell phones. The code should then be filled into the ThinkPortal page to verify that they are the correct client.
According to the multi-licensed broker, this verification can save clients from account hijacking attempts while keeping assets and data safer. ThinkMarkets has also added several examples where the client generates an OTP when encountering a suspicious caller.
"With fraudulent calls becoming common among online traders, the security of your information is paramount to us. If you receive a call from a representative of ThinkMarkets, you now have the option of requesting an OTP from the caller. Upon this request, an OTP will be sent via SMS, which you can then input into ThinkPortal to validate the caller," added ThinkMarkets.
In other news, ThinkMarkets recently appointed Alexander Kolchev as its new CTO (Chief Technology Officer). The former executive at DXC Technology will play a key role in managing and developing ThinkMarkets' technology.
Previously, Kolchev held senior positions in product management and software focused on forex systems. Before working at ThinkMarkets, he also held analog positions in one of the Fortune 500 companies.