The two things that keep firms awake at night

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And you might be one of 'em!

The New York Times reports that a report released on Tuesday by the Financial Industry Regulatory Authority, the industry’s self-monitoring organization, said a study of about 20 brokerage firms found the threat of an online intrusion by a nation or a terrorist group ranked near the bottom of the industry’s concerns.

Brokerage firms based in the United States remain most concerned about an attack carried out by a loose band of hackers or employees with a grudge.

Worries about state-sponsored breaches were highest at big investment banks. But few of the largest firms questioned by Finra put such attacks at the top of their list.

All the firms said they had little concern about a hacking carried out by a competitor.

The results of the study were included in a Finra report that focused on best practices that brokerage firms should enact to prevent serious attacks that can compromise a customer’s personal and financial information. The organization conducted the survey last year to better understand what brokerage firms, both large and small, are doing to guard against a serious breach.

Hit the link below to access the complete New York Times article:

Brokerage Firms Worry of Breaches by Hackers, Not Terrorists

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