By Author Shawn Waldman, CEO and Founder of Secure Cyber Defense, LLC
Did you know that the FBI is the lead federal agency for investigating cyber attacks by criminals, overseas adversaries, and terrorists? Cyber threats are serious and growing, and intrusions are becoming more commonplace, more dangerous, and more sophisticated.
In fact, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) recently alerted investment professionals about many of the common lapses it observed when conducting thousands of cyber security exams1. The report warned that hackers are in fact becoming more aggressive and sophisticated — and in some cases backed by substantial resources and nation state actors.
Based on recent feedback from Mutual Fund Board Trustees and Directors, many in the industry are taking notice of the warnings and stepping up to make sure that their affiliated service providers, fund administrators, distributors, and other business partners are doing all they can to protect shareholders from cyber harm. Read more…