TD Ameritrade Institutional’s National LINC Conference kicked off Wednesday with an in-depth look at how financial advisors and their staff can best protect their clients’ data while remaining in the clear with regulators.
Theresa Payton, the White House chief information officer during the George W. Bush administration, told conference attendees that hackers are now considered the biggest threat to national security. With new malware being discovered every 90 seconds and with people’s lives becoming increasingly connected with the so-called “Internet of things,” it’s impossible to make a firm completely immune to a data breach, she said.
But that doesn’t mean advisors can’t prepare. According to Payton, 95 percent of breaches in the last two years were the result of human error. Simply fooling the user caused 78 percent of these breaches. For the full article click here
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