Emerging Markets, Stocks

Hedge Fund Security In An Age Of Cyber-Attacks

The financial services industry is a particular target of cyber-attacks, a recent EZE Castle research report noted while offering advice on how to prevent and manage issues.

cyber attacks

Cyber-Attacks can harm the U.S. Economy

Citing an SEC roundtable held in March 2014, the report highlighted how financial firms can be the subject of not just economic thieves looking to profit from a hack, but also terrorist organizations and other foreign forces attempting to harm the U.S. economy.  Early this summer, ValueWalk sources had indicated the March event was the benchmark for the agency making it a top priority for fund managers to be aware.

In her opening statement at that event, SEC Chairwoman Mary Jo White stated that cybersecurity is a global concern and first on the list of the Division of Intelligence’s threats, surpassing even terrorism. She said finance remains the top target and implored investment firms must get ahead of such threats and mitigate risks.

SEC getting in front of cyber-attacks issue

The SEC getting in front of an issue like this signifies they were potentially given guidance on the issue from potential CIA or NSA operations who first detected the threat. The good news is that the financial services industry, particularly the quantitative set, tends to be comfortable with technology.

Read more from ValueWalk

This material is reproduced with the prior written consent of ValueWalk.  Please visit ValueWalk at http://www.valuewalk.com


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