Cyber:
The Evolving Landscape

In an increasingly digital world, the biggest drawback that has emerged is the cyber-risk that individuals and organisations face in their online activity.

For financial advisers, the paradox is heightened; while digital connectivity brings undreamt-of efficiencies, it is also a vector for external threat. The inescapable problem for advice firms is that they hold a commodity that is precious to bad actors – financial data. To data thieves, financial advisers are an Aladdin’s cave of identity details, financial information, transactions, accounts, and backdoor access points to data providers. And under Australian law, it is the advice firm’s responsibility to protect this data trove.

No financial adviser, compliance officer or business owner in the financial services sector can afford to ignore this existential business risk.

In the July edition of INPractice, The Inside Network will examine:

• The evolving cyber-threat landscape;

• The specific challenges that financial advisers encounter when managing sensitive client data and complying with regulatory requirements;

• The responsibilities that advisers have if they become a victim of cyber-crime; and

• The risk mitigation strategies that can build a cyber-resilient firm.

This webinar will provide financial advice firms in Australia with a comprehensive overview of the cyber-security risks they face in an increasingly digital world, and what they can do.

The discussion will cover practical advice on risk mitigation strategies, including tips on staff training, implementing multi-factor authentication, securing client communications, and ensuring compliance with the law, given that financial advisers are considered part of Australia’s ‘critical infrastructure’ – they are at a higher risk of online breaches.