The Cybersecurity Problem Requires Human Solutions

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  • November 02, 2017

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In the wake of headline-grabbing hacks like Equifax, experts weigh in on how advisors can step-up their protection.

Despite headlines all month showing the scope of compromised personal information in attacks on Equifax, Yahoo and the SEC, many advisors still aren’t taking cybersecurity seriously.

An examination of more than 1,200 investment advisors by the North American Securities Administrators Association uncovered 698 deficiencies, including no or inadequate cybersecurity insurance, no testing of cybersecurity vulnerability, lack of procedures regarding securing or limiting access to devices, no technology specialist or consultant and a lack of procedures regarding hardware and software updates or upgrades.

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