Cybersecurity still worries RIAs the most: Study

Cyberthreats continue to be the biggest concern for registered investment advisers, with 88% of firms identifying “cybersecurity/privacy/identity theft” as their main worry, according to a new compliance testing survey. The survey — conducted by the Investment Adviser Association (IAA), ACA Compliance Group and the asset management holding company OMA — also found that anti-money laundering, anti-bribery and anti-corruption concerns are gaining greater importance among RIAs. The survey showed increased efforts to battle cybersecurity, as the number of firms with formal, written, standalone cybersecurity programs increased by 29% from last year. And over the past 18 months, nearly 20% of the adviser firms were victims of a cybersecurity breach, according to the survey.

Source: Cybersecurity still worries RIAs the most: Study

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