Friday; January 31, 2020

Workplace Cybersecurity Newscast

A Security News Roundup for Financial Advisors 

Insurers look to curb ransomware exposure as U.S. cyber rates rise
Reuters: U.S. insurers are ramping up cyber-insurance rates by as much as 25% and trying to curb exposure to vulnerable customers after a surge of costly claims, industry sources said.

 

Practical Cybersecurity Steps For (Independent) Financial Advisors To Better Protect Client Data
Kitces: In most financial planning firms today, nearly all business operations depend on some form of cloud-based technology or other data storage system. And given the sensitive and personal nature of client information that financial advisors are entrusted with and work with on a daily basis, reliable security measures need to be implemented to protect that client data, wherever it is stored.

 

SEC Issues Best Practices for Cybersecurity
Financial Advisor: The SEC has issued a report outlining best practices for maintaining cybersecurity drawn from the regulator’s examinations. The report is based on “thousands” of exams of broker-dealers, investment advisors and other entities registered with the SEC and is aimed at helping them bolster “cybersecurity preparedness and operational resiliency,” the regulator says

 

Cybersecurity means protecting printers, computers, too
Financial Planning: As you layer up before venturing outside in frigid weather, you know it’s the base layer of protection closest to your skin that’s key to staying warm and dry. The same logic applies to managing and protecting your firm’s technology. While many focus solely on their firms' fintech stack, far fewer realize that RIAs must also prioritize the everyday technology as well..

 

The Staying one step ahead of cybercriminals
Think Advisor:
While your bank does a lot to keep your accounts secure, it takes good habits to stay one step ahead of online criminals. It's important to review your online accounts and digital assets to make sure they’re backed up, secured and optimized for your unique needs. Follow these five best practices to keep your money and other digital assets safe.

 

SEC Report: Firms' cybersecurity success starts at the top
Wealth Management: It takes senior leadership pushing initiatives to bring about successful cybersecurity practices within firms and organizations; that is one of the findings of a new report from the Security and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE).

 

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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