Hackers trigger panic, missteps when advisers fail to plan

[shortordercook]

Financial advisory firms are so busy trying to prevent computer hacking that they sometimes neglect an equally vital issue: what to do when hackers succeed.


http://www.reuters.com/article/2015/03/13/us-financial-finra-cybersecurity-idUSKBN0M91TR20150313

 

[shortordercook]

..."A firm's response to a breach is as important as trying to prevent one, compliance experts say."...

Firms must have emergency response plans in place for cyber attacks, just as they would for other business disruptions, such as a fire, compliance experts say. While the largest brokerages typically have manpower to respond to crises, smaller firms often rely on outside professionals.

 

[shortordercook]

Smaller firms have an added problem, besides the cost to attempt to correct the hacking: many cannot afford the best security solutions, nor effectively use them, and as many smaller firms are 'neighborhood friendly', may not have their guard up at all!