Why Financial Advisors Need a Cybersecurity Swat Team to Respond to The Inevitable
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Show Notes
Michael Cocanower, CEO of AdviserCyber, joins Mike Langford to discuss the importance of cybersecurity for financial advisory businesses. He highlights the increasing threats and the lack of internal resources for most RIAs to protect against cyber attacks.
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Resources Mentioned In This Episode:
- How Financial Advisors Can Help Protect the Privacy, Security, and Reputation of Their Wealthy Clients - Mykolas Rambus of Hush
- SEC Reg S-D - Amendments "modernize and enhance the rules that govern the treatment of consumers’ nonpublic personal information by certain financial institutions."
Chapters
00:00 Introduction: The Importance of Cybersecurity for Financial Advisory Businesses
03:08 Understanding the New SEC Rules on Cybersecurity
09:07 The Four Pillars of Cybersecurity: Prevention, Detection, Mitigation, and Remediation
23:50 Common Types of Attacks and the Need for Cybersecurity Training
24:40 Enhancing Security with Multi-Factor Authentication
25:10 Introduction to Cybersecurity Threat Reports
27:01 The Human Element in Cybersecurity
29:41 Recognizing and Avoiding Phishing Attempts
34:16 The Importance of Communication and Verification
41:10 Shifting the Mindset: Assume Breach
46:41 Proactive Measures: Isolating Individual Computers