Results 1 to 7 of 7
  1. #1
    Account takeovers have grown in frequency, Tittsworth said. A takeover or highjacking of an account or email involves taking someone’s ID and having a firm transfer a client’s money to outside accounts, often outside the United States. For example, a client may have had their identity stolen and the criminal is using the adviser to facilitate a wire transfer out of a client’s brokerage account.

  2. #2
    Account takeovers have grown in frequency, Tittsworth said. A takeover or highjacking of an account or email involves taking someone’s ID and having a firm transfer a client’s money to outside accounts, often outside the United States. For example, a client may have had their identity stolen and the criminal is using the adviser to facilitate a wire transfer out of a client’s brokerage account.

  3. #3

    IA brief: Account takeovers are big cybersecurity risk for advisers

    NEW YORK, April 24, 2014 (Thomson Reuters Accelus) – A recent cybersecurity roundtable hosted by the Securities and Exchange Commission should act as a call to action for investment advisers, as the threat of cyber attacks is high for all companies and increasing daily, say event panelists.

  4. #4
    2IVYUySIyS
    Guest

    IA brief: Account takeovers are big cybersecurity risk for advisers

    Investment advisers, whether small or midsize, are not immune from these attacks and now is a good time to recognize the firm’s risks, review available guidance, hone formal policies and procedures, and preparing for an imminent SEC exam module concerning cybersecurity.

  5. #5

    IA brief: Account takeovers are big cybersecurity risk for advisers

    David Tittsworth’s, executive director of the Investment Adviser Association, gave the roundtable an overview of the cybersecurity risks often seen in the adviser community. A traditional adviser or investment manager’s top risk is account takeover. For private and institutional wealth-management advisers, the risks include hackers and denial of service. Tittsworth also noted that internal risks apply to all advisory firms.

  6. #6
    Guest

    IA brief: Account takeovers are big cybersecurity risk for advisers

    A majority of advisers are small businesses and typically lack the resources or tools that larger firms have to protect against and combat cyber attacks. However, awareness is the first tool for ensuring that advisers are not falling behind, according to Tittsworth.

  7. #7
    Guest

    IA brief: Account takeovers are big cybersecurity risk for advisers

    Threats for small-to-midsize firms may differ from those menacing larger institutions. But they are just as devastating, and one breach can bring down an advisory firm. Mr. Tittsworth spoke on behalf of the adviser community and gave a look at what types of risks are seen for both the traditional and private or institutional adviser.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •