The Impact of Cyber-Security on Fund Administrators
Cyber-security has become one of the most important considerations for companies operating within the global financial system. The increasing number of data breaches and cyber attacks have led many to question what the financial service industry is doing to address the important topic of cyber-security.
At particular risk are fund administrators who maintain sensitive information such as the names, addresses and social security numbers of hundreds, if not thousands of high-net-worth individuals. Add to this client trading data and you can begin to see why a data breach could be devastating not only for the security of the client and its investors, but the reputation of the administrator.