As cyber threats abound, everyone from large financial firms to individual advisors needs to make sure they have done everything they can to guard against a breach. That often means putting the systems that are already in place to the test.
Financial services industry organization SIFMA is gearing up for its latest industry-wide cybersecurity test this fall.
Financial advisors and their firms should also be conducting their own tests to see how prepared they are to face the worst security threats. The test included the participation of more than 50 financial firms, as well as government regulators and SIFMA itself. The participants include more than 1,000 individuals across different areas of financial services, including wealth management, in a range of roles including CEO, CFO, chief security officers, crisis management and others.
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