Advisors’ Low-Tech Cybersecurity Action Plan

Advisors’ Low-Tech Cybersecurity Action Plan

Think Advisor | 12/7/2016 | Danielle Andrus The great paradox of cybercrime is that financial firms’ biggest vulnerability isn’t their technology, it’s the people who use it. “It’s low-tech. It’s human error; people sending PII or SII. Folks are not breaking into the 256-bit encryption. They’re counting on human beings to not be aware [of risks] and to make mistakes,” according to Tom Embrogno, chief information security officer at Docupace. Read more here About Docupace Docupace Technologies, LLC pioneered and implemented SEC/FINRA-compliant Straight-through Processing technology for financial services companies. Docupace’s cybersecurity and document management and workflow...

Credit Union Low-Tech Cybersecurity Action Plan

Credit Union Times | 12/8/2016 | Danielle Andrus The great paradox of cybercrime is that credit unions’ biggest vulnerability isn’t their technology, it’s the people who use it. “It’s low-tech. It’s human error; people sending PII or SII. Folks are not breaking into the 256-bit encryption. They’re counting on human beings to not be aware [of risks] and to make mistakes,” according to Tom Embrogno, chief information security officer at Docupace. Log in to read more About Docupace Docupace Technologies, LLC pioneered and implemented SEC/FINRA-compliant Straight-through Processing technology for financial services companies. Docupace’s cybersecurity and document management and workflow...
Is Paper Jamming Up Your DOL Preparations?

Is Paper Jamming Up Your DOL Preparations?

t3technologyhub.com | 12/2/2016 | Tom Embrogno If there’s one thing that the has become apparent as firms prepare for the implementation of the Department of Labor Fiduciary Rule in April it is that the majority of firms, especially in the independent broker/dealer space, are years behind in their adoption of technology and as a result drowning in an ocean of paper. For years we’ve heard talk about the “paperless office” and although today that ideal can be realized, virtually no firms in our industry are doing it despite the advantages in terms of compliant and improving client service. Turning client onboarding into a digital process can provide a solution to numerous compliance issues...
Financial Advisers Should Keep Prepping for Fiduciary World

Financial Advisers Should Keep Prepping for Fiduciary World

Bloomberg BNA | 12/20/2016 | Sean Forbes Nov. 17 — The financial services industry is all abuzz about what the election of Donald Trump will mean for the Labor Department’s fiduciary rule. But any uncertainty the industry has about the future of the rule hasn’t stopped most advisers from continuing to prepare for it. Momentum to ax the rule is building. Rep. Ann Wagner (R-Mo.) told the Wall Street Journal and in a Facebook post Nov. 14 that she’s “confident” that the rule will be nixed by Trump and Republicans in Congress. The House Education and the Workforce Committee also released a press statement this week reiterating its opposition to the rule. The rule, which the administration...
Focus on Human Error to Fight Cybercrime

Focus on Human Error to Fight Cybercrime

Financial Advisor IQ | 12/13/2016 Human error is the biggest vulnerability when it comes to cybercrime aimed at financial companies, but it’s relatively simple and inexpensive to limit, ThinkAdvisor writes Cybercriminals aren’t cracking 256-bit encryption. They’re waiting for a human being to make a mistake, Tom Embrogno tells ThinkAdvisor. That’s why the first step toward cybersecurity for any advice firm is to encrypt devices used by employees and encourage customers to follow suit, according to the publication. Companies should also take stock of all hardware used at the office, including devices employees bring to work, according to Embrogno, chief information security officer at...

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