CHICAGO–(BUSINESS WIRE)–Backstop Solutions Group, a leading provider of cloud-based solutions for the institutional investment community, today released the results of a cybersecurity survey. A sample of leading institutional investors were questioned about their firm’s prioritization of cybersecurity, their budget allocation to address new threats, and their confidence in their firm’s ability to recover from a potential attack.
“With barriers to entry getting lower, the threat of cyber-attacks is only growing,” said Michael Neuman, Backstop’s Head of Information Security. “It’s crucial that firms look at their preparedness and create an integrated plan that readies the company to fight these attacks.”
Backstop surveyed a group of leading investment managers and allocators on the following criteria:
- The level of prioritization for cybersecurity prevention at their firm
- The percentage of budget increase their firm allocated to cybersecurity over the last year
- The level of confidence in their firm’s recovery plan
“As cyber security threats continue to rise, the financial consequences of a breach can wreak havoc for fund managers and multi-managers,” added Chris DeNigris, Backstop’s Global Marketing Manager. “Institutional investors have proprietary client information and not having preventative measures in place can lead to long term reputational damage for the firm.” For the full article click here
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