John O’Connell of the Oasis Group offers advice on how to approach the cybersecurity challenge in the wealth management industry in this video interview with WealthManagement.com at the 2023 T3 Technology Conference.
Cybersecurity adoption is still low among advisory firms, but it’s critical for all organizations—large and small. John O’Connell of the Oasis Group offers advice around how to approach the cybersecurity challenge.
As the financial advisory industry has become increasingly digital, the threat of cyberattacks and data breaches has significantly increased. A set-it-and-forget-it approach to cybersecurity is no longer sufficient for modern registered investment advisors (RIAs).
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John joins Nicole Casperson as he discusses the risks of ransomware and how this rising threat should spark planning for wealth management firms and policies from their technology teams. Investment News, Tech Stack$, Fintech for Advisors podcast. Listen Now
Ransomware attacks are on the rise, and John O’Connell of Oasis Group points out that the costs for businesses can include not just the ransom, but reputational damage or even having the data of the company or its clients sold on the dark web. investmentnews
Ransomware attacks soared 158% in North America last year and 300% in the US. Ransomware industry growth driven by remote work, inadequate training, and rising cryptocurrency prices. Wealth management firms can be attractive to ransomware groups. The recent ransomware attack by DarkSide on the Colonial Pipeline highlights how crippling ransomware attacks can be on a...
