The Hong Kong Securities and Futures Commission reprimanded Luk Fook Securities (HK) Limited and fined it HKD 2.1 million for inadequate cybersecurity controls that increased its vulnerability to a September 2022 ransomware attack and delayed full system recovery by about three weeks. The disruption affected critical infrastructure and prevented clients from trading through the firm’s mobile app and internet platform, although they could place orders through account executives. The regulator identified deficiencies in network protection and monitoring, software maintenance, access and password controls, remote access, staff training, data backup and business continuity arrangements. In determining the sanction, it considered the firm’s independent review and remediation, cooperation, clean disciplinary record and the absence of evidence that clients suffered losses.
Hong Kong Securities & Futures Commission2026-07-28
Hong Kong Securities and Futures Commission reprimands and fines Luk Fook Securities HKD 2.1 million over cybersecurity failures
The Hong Kong Securities and Futures Commission reprimanded Luk Fook Securities and fined it HKD 2.1 million for cybersecurity failures linked to its vulnerability and delayed recovery from a ransomware attack. The deficiencies covered network security, software maintenance, access controls, staff training, backups and business continuity.