Friday; January 17, 2020

Workplace Cybersecurity Newscast

A Security News Roundup for Financial Advisors 

Advisors Beware: Email Fraudsters Getting Better at Victim Profiling
Think Advisor: Financial Advisor: Email fraudsters are increasingly targeting the financial services industry, and they are getting better at identifying the right potential victims, according to cybersecurity regulators and experts. “It’s almost as if many of the fraudsters have worked in financial services in the past,” Gregory Markovich, regulatory principal at Finra’s Chicago District Office, said last week at the SRO’s 2020 Cybersecurity conference in New York City.

 

Treasury Wants Better Information on Financial Entities’ Cybersecurity Practices
Nextgov: 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.

 

Markets regulators struggling to keep up with technology: SEC's Jackson
Reuters: The rapid growth of digital assets and computer-driven investment advice has become a key challenge for regulators in trying to keep up with technological advances while seeking to protect investors, a U.S. markets regulator said on Monday.

 

Finra Reviewing Firms’ Tech Controls, Cybersecurity Programs
Financial Advisor: Finra is reviewing technology controls and cybersecurity programs of broker-dealer firms but is taking on a consultative approach, according to executives at the self-regulator. Gregory Markovich, part of a cybersecurity specialist team at Finra, acknowledged at a conference this week that cybersecurity is “challenging” and “evolving,” and the self-regulator takes those factors into consideration when reviewing member firms.

 

The Latest Cyber Risk You Need to Know About
Think Advisor:
The east-west 'Add business email compromise', aka BEC, to your list of business cyber risks. It’s a growing risk and spreading around the world, according to Michael Driscoll, FBI special agent in charge, Counterintelligence/Cyber Division, in the bureau’s New York office. “BEC is right now off the charts,” said Driscoll, who spoke at the 2020 FINRA Cybersecurity Conference. “Every business is getting targeted, from the smallest to the largest.”

 

A Cautionary Tale About Cybersecurity
NAPA-net: Your friend’s Facebook account was hacked, your neighbor was part of the Equifax data breach, your client’s credit card was charged fraudulently, but never do you think it could happen to you. Well, it could. In this post, we’re going to share a story about our (near) personal identifiable information (PII) mishap – and a new marketing idea on how you can approach prospects to win more retirement plan business.

 

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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