Friday; January 3, 2020

Workplace Cybersecurity Newscast

A Security News Roundup for Financial Advisors 

How a Password-Free World Could Have Prevented the Biggest Breaches of 2019
Dark Reading: If history has taught us anything, it's that hackers can (and will) compromise passwords. Innovation in authentication technology is poised to change that in the coming year.
When it comes to the frequency of cybersecurity incidents, we may be heading into uncharted territory: So far, 2019 is on track to be the "worst year on record," according to the most recent research from Risk Based Security.

 

Five Emails you don’t want in your Inbox
Security Boulevard: According Phishing attacks are the most common form of cyber attack. Why? The simplicity of email gives cybercriminals an easy route in, allowing them to reach users directly with no defensive barriers, to mislead, harvest credentials and spread malicious elements. All organizations think it won’t happen to them, but phishing isn’t a trap that only ensnares the gullible or those unacquainted with technology. Far from it. Gone are the days of poorly-worded, patently obvious attempts at scamming users out of their hard-earned cash.

 

How Financial Advisors Can Help Clients With Cybersecurity
Wealth Management: What do Yahoo, Under Armour and MySpace have in common? Here’s a hint, the same thing as Marriott and Equifax—they’ve all been hacked on a massive scale in the hundreds of millions. Whether it’s the wealthiest man in the world, the founder of Amazon—Jeff Bezos—or the Russians interfering with our elections, it seems that everywhere we turn we hear about another breach of cybersecurity.

 

Financial advisors need to put cybersecurity plans to the test
CNBC: As advisory firms face risks of phishing, ransomware, email viruses and other targets, there’s one key way for them to know if they’re prepared: Put their systems to the test.
Top-ranking firms are adding technology and insurance to protect their businesses from such events, and training employees to spot the risks.

 

What Financial Institutions Need to Know About the CCPA
Law.com:
We now know with relative certainty what the California Consumer Privacy Act (CCPA) will look like when it goes into effect on Jan. 1, 2020, as the last five amendments went to Gov. Gavin Newsom’s desk for signature. So did the amendments change anything for financial institutions? To address that, let’s lay out what financial institutions already knew before these amendments, what the amendments changed, and also, what they did not change as some had hoped. Almost undoubtedly, the CCPA exclusion most pertinent for financial institutions is the Gramm-Leach-Bliley Act exclusion, stating that any personal information collected, processed, sold and disclosed pursuant to the federal Gramm-Leach-Bliley Act (GLBA) is exempt from CCPA coverage.

 

141 Cybersecurity Predictions For 2020
Forbes: Serial cybersecurity entrepreneur Shlomo Kramer said in a 2005 interview that cybersecurity is “a bit like Alice in Wonderland” where you run as fast as you can only to stay in place. In 2020, to paraphrase the second part of the Red Queen’s observation (actually from Through the Looking Glass), if you wish to stay ahead of cyber criminals, you must run twice—or ten times—as fast as that. The 141 predictions listed here reveal the state-of-mind of key participants in the cybersecurity defense industry and highlight all that’s hot today.

 

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. 

Workplace by OS33  is the market leading cloud security and compliance platform for investment advisory firms, broker dealers and insurance companies with independent agents, representatives and advisors.