Every year, the Financial Industry Regulatory Authority (FINRA) releases a letter examining the most pressing issues threatening the financial services industry. Unsurprisingly, cybersecurity remains in the forefront of FINRA’s concerns. Together with the National Institute of Standards and Technologies, FINRA issued a series of recommendations for how businesses can fortify their cybersecurity defenses, including an analysis of existent practices and a checklist of recommendations for small financial firms.
While these recommendations comprise a solid beginning to fortifying your firm against breaches, they are just that—a beginning. Financial firms face distributed denial of service (DDoS), malware infections, insider threats, ransomware, cyber-enabled fraudulent wire transfers, nation state and terrorist attacks. Motivations range from opportunistic, to ideology, to financial gain. At the same time the capabilities of malicious actors are increasing.
To remain a step ahead, these three security resources can take your business to the next level of security.
- Breach Analytics and Monitoring
- Security Incident Response Platform
- Manager Security Service Provider
Read about these three steps and additional steps you can take as a precaution in the article published by Law Technology Today.