Friday; January 17, 2020

Workplace Cybersecurity Newscast

A Security News Roundup for Financial Advisors 

FINRA, SEC Warn of Ongoing Cyber Threats
Think Advisor: Broker-dealer firms continue to face cybersecurity threats on multiple fronts, including phishing and ransomware attacks from outside their organizations and from disgruntled ex-workers and weak security controls within, according to compliance experts from the Financial Industry Regulatory Authority, Securities and Exchange Commission and National Futures Association who spoke at the FINRA Cybersecurity Conference in New York on Tuesday.

 

Five Ways Business Directors Can Prepare For The Future Of Cybersecurity
Forbes: Cyber attacks aren’t just for big-name businesses. Cybersecurity threats affect all businesses, big and small. If you’re a financial advisor, you need to pay close attention to how you handle sensitive financial information. Protecting your information and your clients’ information has never been more important.

 

I’m Cyber Incidents Now Pose Top Peril for Companies Globally, Allianz Says
Security Boulevard: Cybersecurity shot up to the #1 spot as the top peril for companies globally this year, from #2 last year and as low as #15 seven years ago, according to financial services firm Allianz. Cyber incidents – defined as cyber-crime, IT failure/outage, data breaches, fines and penalties in the Allianz Risk Barometer for 2020 – rank as the top risk for companies globally in the Allianz Risk Barometer for the first time after receiving 39% of responses from more than 2,700 risk management experts in over 100 geographies.

 

These will be the main cybersecurity trends in 2020
World Economic Forum:
The east-west 'cyber cold war' is set to intensify. 5G and the IoT could make us all more vulnerable to cyberattack. Businesses will start to rethink their approach to the cloud. The world is more connected than ever. We are becoming more technologically advanced, markets are stronger, and central technologies that encompass our daily actions are constantly emerging

 

New York Bank Cyber Rule Deadline Signals Enforcement Risk
Forbes: New York financial companies may face their first fines under state cybersecurity rules following an April 15 compliance deadline, attorneys said. Firms including Equifax Inc., Bank of New York Mellon Corp., and American Express Banking Corp., must show by the deadline they have cybersecurity protections in place, that consumer data is safe from hackers, and that they routinely check their systems for weaknesses, under the rules.

 

A Background on Retirement Plan Cyber Crimes and How to Mitigate Them
PlanSponsor: The question gets asked quite frequently in regulatory circles: “Will the New York State Department of Financial Services bring an enforcement action under its cybersecurity regulation, and if so, when?” The probable answers are “yes” and “soon.”

 

Cybersecurity Newscast provides top security news and information specific to the financial services industry. Through a variety of primary and secondary news sources, we aggregate relevant news and then determine the best stories to be featured by covering a mix of headline news as well as less reported, yet relevant news stories specific to security and compliance. 

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