Do you believe your financial advice firm is well protected from cyber-threats?
- Yes (63%)
- No (25%)
- Not sure (13%)
Our latest poll asks how confident you feel that your financial advice firm can detect and protect against cyber threats.
The FMA has released a report on financial advice firms’ perceptions of risk, types of cyber attacks they had experienced and cyber resilience areas they needed to change (see: FMA Report Shines Light on Cyber-Resilience…).
“The operation of financial service firms and financial markets is increasingly digitised, and the incidence and cost of successful cybercrime-related attacks continues to grow,” the FMA stated in its report.
“Cyber-risk encompasses all risk of loss, disruption, or damage to a firm caused by failure in its information technology systems – from both internal and external threats. The interconnectedness of the financial sector means any part of it might be an entry point for a wider cyber- incident,” it added.
The regulator warned that it does not believe any FMA-regulated sector in New Zealand is ‘safe’ from cyber-attacks and “financial services firms should not allow their size, or lack of it, to create a false sense of security”.
Have you ever experienced cyber attacks to your business? Do you think there is more you can do to increase the cyber-resilience of your advice firm? Let us know your opinion in the poll above and we’ll report back to you next week…