- Security & reliability: 2 pillars of Keytrade Bank Luxembourg
- Some tips for your own protection on Internet
IT security and reliability: the two pillars of Keytrade Bank Luxembourg
Encryption and intrusion detection systems meet the highest standards guaranteeing optimum confidentiality for the Bank's clients and unreadable by third parties. All data and documents are constantly backed up to ensure their enduring safety.
In addition, Keytrade Bank Luxembourg has its Internet systems audited every day by one of the world leaders in Internet security: Netcraft.
A web-based bank such as Keytrade Bank Luxembourg is bound to have back-up IT systems in order to avoid any interruption of service and to offer constant accessibility.
Every client receives three unique codes and a Keytrade ID. The logon, password and Keytrade ID are used to access Keytrade Bank Luxembourg's secured site. A third code (called confirmation code) enables to confirm each trading and banking transaction. To know more about the Keytrade ID, please click here.
Accounts at Keytrade Bank Luxembourg are blocked after the third introduction of an erroneous code. Personal data (name, address, etc…) are never communicated to third parties.
Reliability and stability
Keytrade Bank Luxembourg offers all of the guarantees of a bank that is part of one of the world's largest financial groups: Crédit Mutuel Arkéa Group.
Keytrade Bank is a company under Luxembourg law monitored by the Commission de Surveillance du Secteur Financier. A company which is submitted to the control of the Luxemburgish authorities is obliged to respect certain rules in order to guarantee the protection of it's customer's property; she must undertake all the necessary in order to respect the regulations concerning separation of accounts. The customer accounts are completely separated from the accounts of the company. The company must also prove that it doesn’t use the clients accounts on it’s own behalf.
Fonds de Garantie des Dépôts Luxembourg and Système d’indemnisation des investisseurs Luxembourg [Investor Compensation Scheme Luxembourg]
The Fonds de Garantie des Dépôts Luxembourg and the Système d’indemnisation des investisseurs step in when a member institution can no longer fulfil its obligations to its clients.
Fonds de Garantie des Dépôts Luxembourg (FGDL)
You benefit from legal deposit guarantees to protect your assets. Keytrade Bank Luxembourg is also a member institution of the Fonds de Garantie des Dépôts Luxembourg (for more information, please consult the website at www.fgdl.lu).
The purpose of the Fonds de Garantie des Dépôts, which is a public institution, is to ensure the stability of the Luxembourg banking system and to protect the clients of the member institutions in case of their bank’s failure.
The Fonds de Garantie des Dépôts Luxembourg has taken over the functions exercised in the past by the non-profit organisation Association pour la Garantie des Dépôts, Luxembourg “AGDL” [Deposit Guarantee Association Luxembourg] “FGDL”.
As a client of Keytrade Bank Luxembourg, a credit institution incorporated under Luxembourg law, your assets are protected by the Deposit Guarantee Scheme which is officially recognised in Luxembourg, up to a maximum of 100,000 Euros for deposits, you shall be compensated within 7 working days (as from 1June 2016).
For joint accounts, the maximum amount of 100,000 euros applies to each depositor. However, deposits in an account in which at least two people have rights in their capacity as the partner of a company, as a member of an organisation or any entity of a similar nature, which do not have a legal personality, are, for the calculation of the maximum amount of 100,000 Euros, grouped together and processed as if they had been made by a single depositor.
Système d’indemnisation des investisseurs Luxembourg (SIIL)
The functions carried out in the past by the AGDL in the field of investor protection have been taken over by the Système d’indemnisation des investisseurs Luxembourg “SIIL”, of which Keytrade Bank Luxembourg is a member.
When you cannot recover financial instruments (that is to say securities such as shares, bonds, SICAV [open-ended collective investment scheme], ...) that you have entrusted to a failing institution. Depositors can obtain another compensation for a maximum amount of €20,000. As the financial instruments are registered in your name, you should recover all of them without having to request compensation from the Système d’indemnisation des investisseurs Luxembourg “SIIL”.
You shall receive compensation within 3 months at the latest.
Passwords and codes
- Do not give your passwords and codes to third parties, even not your close relatives whom you trust. When you open an account for several account holders or mandatories, we provide each person with his/her personal passwords and codes.
- Change your passwords regularly and follow our “Seven golden rules for a safe password”. Log on to the secure site and click on “Your preferences”. Click in the section “Passwords & security” Access password and Confirmation code.
- Always log out with the “Log out” button when you leave your computer or when you surf to other sites.
Your computer (PC or Mac)
- Avoid using public computers (e.g. cyber café's).
- Use modern anti-virus software, which will regularly have updates. Make sure that your anti-virus checks automatically on a daily basis if there is an update available.
- Use a firewall to keep unauthorised persons from gaining access to your computer through the Internet.
- Keep the software on your computer up-to-date (Windows Update for PC / Software Update for Mac), check weekly if updates are available. Updates usually have adapted or reinforced security procedures.
Contact your computer specialist for a detailed explanation and the possible installation of the appropriate software.
Should you nevertheless have a virus on your PC, remove it and make sure to modify your passwords immediately. You can also always request new passwords at Keytrade Bank Luxembourg.
- Do not open email attachments unless you expect them.
- Email attachments with jokes can also contain viruses or other unwanted software, even if you know the sender. Make sure that your anti-virus software examines e-mail attachments, activate if necessary the anti-virus mail filter of your Internet provider.
- Keytrade Bank Luxembourg will never ask for bank account numbers, debit or credit card numbers, passwords or codes by e-mail.