Most Brokers, Advisers In SEC Study Were Cyberattacked
Law360, New York (February 3, 2015, 4:54 PM EST) -- A sizable majority of brokerage and advisory firms included in a recent U.S. Securities and Exchange Commission study have experienced cyberattacks, though most of those firms have written policies to handle and prevent such incidents, according to a summary released Tuesday.
Nearly nine in 10 broker-dealers polled in the study and just less than three quarters of advisers polled have experienced cyberattacks, around half of which were from fraudulent emails seeking to transfer clients funds, according to the recent study, conducted by the SEC's Office of Compliance Inspections and Examinations. More than 25 percent of those broker-dealers who had been targeted...
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