The United States Securities and Exchange Commission (SEC) proposes to address cybersecurity risks to the financial services sector. Seems like a pretty good idea, doesn’t it? Maybe even overdue, given what we know about the intentions and actions of countries like Russia and China. The new cybersecurity rules would apply to “broker-dealers, the Municipal Securities… Read More >>
SEC Gets Serious About Cybersecurity Risks
We know that Vladimir Putin commands an army of hackers that he’s unleashed before — to interfere in American elections and to spread social-media disinformation. The current media and intelligence-services consensus is that — in the wake of the multiple economic sanctions imposed on him and his henchmen over the war against Ukraine — he’s… Read More >>
Hedge Funds Tested by Remote IT Management: Q&A
(The economic disruptions and lockdowns caused by the COVID-19 pandemic have compelled the staffs of financial services firms, including hedge funds, to work remotely, mostly from home. In particular, this unique set of circumstances has created IT management challenges for hedge funds coping with the pandemic emergency. FTF News recently had the chance to discuss… Read More >>
Are You Ready for Cyber-Attacks via Keyboards?
(As the world reels from a new round of ransomware attacks, they might be missing cyber-attacks that are happening in plain sight via rogue hardware devices, says Yossi Appleboum, co-CEO of Sepio Systems, which describes itself as a pioneer in this new fight. Sepio officials say that “strategic cyber weapon technology” can be used to… Read More >>
A Cyber-Threat Group Takes Aim at Financial Advisors
A cyber-security solutions vendor, FireEye, posted on its company blog yesterday that a cyber-threat group, dubbed FIN4, is trying to hack its way to insider-trading information. It’s targeting the confidential communications of many companies, including financial advisors. The hackers, who appear to be Wall Street-savvy, want to steal market-impact information about pharmaceutical and healthcare companies…. Read More >>
Responding to the Cyber-Crime Monster
As financial services firms contemplate their responses to the growing cyber-security threat, it’s clear they can’t take on this monster alone. The problem requires a global response to show perpetrators that the industry is seriously taking on cyber-crime. On an individual level, banks such as JP Morgan, Citigroup, Bank of America Merrill Lynch and the… Read More >>
The Cyber-Attacks Are Getting Worse
As I predicted in previous postings, the cyber-attacks have gotten worse. Earlier this week, “hacktivists” slammed the websites of Nasdaq OMX, Bats Trading, the Chicago Board Options Exchange and Bursa Malaysia, causing outages although trading systems were spared. These latest attacks make clear that financial centers can no longer ignore these threats and that they… Read More >>
