Welcome to CyberHygiene, our weekly newsletter, where we share tips and actionable data to help everyone stay safe online.
First time seeing this? Please subscribe.
1. Why should investors be concerned about cybersecurity?
- Cyber attacks can result in financial losses due to theft or unauthorized transactions.
- Sensitive personal and financial information can be compromised in a data breach, putting investors at risk of identity theft and financial fraud.
- Cyber attacks can disrupt trading systems and cause temporary suspensions of trading, leading to significant losses for investors.
- A cyber breach can damage the reputation of an investment firm and erode investor confidence, leading to decreased assets under management and lower returns.
- Investors and investment firms can face increased regulation and penalties if they fail to implement adequate cybersecurity measures.
2. What are the top cybersecurity threats for individual investors?
- Advanced persistent threats (APT)
- Cryptojacking
- Data breaches
- Insider threats
- Investment Fraud
- Malware infections
- Phishing scams
- Ransomware attacks
- Sim swapping
- Social engineering scams
- Unpatched software vulnerabilities
- Unsecured Wi-Fi Networks
- Unsecured Personal Devices
- Weak or stolen passwords
3. How can individual investors protect themselves against cyber threats?
In addition to adhering to basic cybersecurity best practices, individual investors can take the following proactive steps to protect themselves:
- Be mindful of the personal information shared on social media and other online platforms.
- Store sensitive information, such as financial records and personal identification, in a secure and encrypted manner.
- Be cautious of unsolicited emails, text messages, or phone calls asking for sensitive information.
- Do not give out personal or financial information over the phone to people you don’t know.
- Install a reputable mobile security solution to help protect against hacking attempts.
- If you suspect that your phone number has been compromised, contact your service provider immediately to secure your account.
- Monitor your financial accounts regularly for any suspicious activity, and report any unusual transactions immediately.
- Consider purchasing cybersecurity insurance to help mitigate the financial impact of a breach.
- Consider working with a cybersecurity expert for customized recommendations.
- Stay informed and educated about current cybersecurity risks and best practices.
4. How to file a complaint with the FTC?
5. What resources are available to help protect individual investors?
1) Books
- Financial Cybersecurity Risk Management by Paul Rohmeyer, Jennifer L. Bayuk
- A Leader’s Guide to Cybersecurity by Thomas J. Parenty, Jack J. Dome
- Cybersecurity and Financial System Resilience Report by Office of the Comptroller of the Currency
- Cybersecurity and Financial System Resilience Report by The board of Governors of the Federal Reserve System
2) Course
- Cybersecurity awareness for financial services professionals by SIFS
- Cybersecurity Training for Finance Professionals by CyberVista
3) Documents
- Cybersecurity Resource Guide for Financial Institutions by FFIEC
- 2022 Report on Cybersecurity and Resilience by FDIC
- 2023 Report on FINRA’s Examination and Risk Monitoring Program by FINRA
4) Podcasts
For more content about cybersecurity for investors, visit:
https://ancient.cybermaterial.com/investors/
Subscribe and Comment.
Copyright © 2023 CyberMaterial. All Rights Reserved.
This article was written by Marc R with the support of Team CyberMaterial, Sofia C. V., Nicolás P , Fabino R. D
Follow us on LinkedIn, Twitter, Reddit, Instagram, Facebook, Youtube, and Medium.
