Half of asset managers to increase cybersecurity expenditure in 2018 following rise in cyber attacks

Increasing threat

Tom Eckett
clock
Half of asset managers to increase cybersecurity expenditure in 2018 following rise in cyber attacks
Image:

Half of asset managers to increase cybersecurity expenditure in 2018 following rise in cyber attacks

Two-thirds of asset managers believe cyber crime presents a greater threat to their business this year than it did in 2017, according to a survey conducted by Osney Media and BackBay Communications.

As a result, 50% of respondents said their firm is set to increase expenditure this year to improve cybersecurity measures across their businesses. The report, Upcoming Trends in Asset Management 2018, interviewed 88 respondents from across all areas of operations including client reporting, technology, marketing, investment, accounting and finance, performance measurement, risk management, senior management and product development. A number of companies in the financial services industry experienced cyber attacks last year such as Lloyds Banking Group, whose digital services were bro...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Technology

FCA also cracks down on high-risk investment adverts

FCA launches consultation to broaden access to LTAF

Tightens high-risk advertising rules

Jenna Brown
clock 01 August 2022 • 3 min read
Asset managers prioritised Article 8 and Article 9 products for the first phase of the European ESG Template reporting, but Morningstar research shows that the data is inconsistent.
ESG

Financial advisers will struggle to meet MiFID II sustainability obligations due to patchy data

Lack of product comparability

clock 29 July 2022 • 2 min read
Industry Voice: Winning by not losing

Industry Voice: Winning by not losing

An asset allocation perspective during a regime shift: focus on policy, inflation and growth

Yoram Lustig & Michael Walsh at T. Rowe Price
clock 27 July 2022 • 2 min read
Trustpilot