Two new reports by regulators on the state of the financial services industry’s cyber-security readiness find that while firms have made definite progress in recent months, much work remains to be done to shore up cyber-defenses. The reports, issued Feb. 3 by the Financial Industry Regulatory Authority (FINRA) and the SEC, draw on the findings… Read More >>
Cyber-Attacks Force Firms to Prepare for the Worst
The number of detected cyber-security incidents across the financial sector rose 8 percent from 2013 to 20414, and the total cost of those incidents has jumped by 24 percent according to a new report by PriceWaterhouseCoopers (PwC). But, over that time, total spending by Information Security (InfoSec) departments at larger financial services firms is up… Read More >>
JPMorgan Cyber-Attack Spurs ‘Fear, Uncertainty & Doubt’
(Editor’s note: In a companion piece to this story, FTF News explores how the FS-ISAC, a financial services cyber threat-sharing group, is automating the sharing of threat information across the financial sector. Read about it here.) The massive cyber-security breach at JPMorgan that compromised gigabytes of sensitive data is dialing up the “fear, uncertainty and… Read More >>
Condé Nast Data Security Director Joins Abacus
Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has named Brian Lozada to be its director of information security. Lozada, who joins from Condé Nast where he held the same title, will report to Viktor Tadijanovic, Abacus Group’s chief technology officer (CTO). At Condé Nast, Lozada was responsible… Read More >>
