The U.S. Financial Industry Regulatory Authority Inc. (FINRA) is warning about increased cybersecurity risks for investment firms as they cope with the shift to remote working arrangements.
In an alert, FINRA said that firms and reps should take steps to address their increased vulnerability to cybersecurity attacks, and to protect both customer and dealer data that may be transmitted on home networks, dealer networks and devices.
“The risk of cyber events may be increased due to use of remote offices or telework arrangements, heightened anxiety among [reps] and confusion about the [Covid-19] virus,” the notice said.
As a result, it called on dealers to remain vigilant for cyber threats, even as they focus on ensuring the resilience of their businesses, and the health and safety of their staffs.
The alert outlines measures that firms and reps can take to address heightened cyber risks.