Broker Dealers Prepare for Cyberthreats
INVESTMENT NEWS | January 18, 2021 | Bruce Kelly
2020 was the year that Independent Broker Dealers needed to rely on technology more than ever, with home-office staff and a large number of financial advisers working from home or in remote offices. What if criminals breach a Broker Dealer’s cyber wall?
He writes: It’s the nightmare of every independent broker-dealer executive, particularly after the recently revealed Russian hack of upwards of 250 federal government agencies and businesses put a spotlight on cybersecurity. What if criminals breach a broker-dealer’s cyber wall by impersonating its financial advisers? The phony advisers call the broker-dealer’s support line and request new passwords, which gives the intruders access to the personal information of thousands of clients. . . Read Article