In a Financial Times FundFire article, data, privacy & cybersecurity partner and co-chair Ed McNicholas (Washington, D.C.) examines how cyber crime imposters are co-opting the identities of top asset management firms and personnel in scams designed to steal investor information or funds.
Ed explains that as cybercrime has risen during the pandemic, industry sectors with vulnerable funds transfer processes are being increasingly targeted. He notes that incidents of cyber criminals impersonating the firm or personnel can result in client, counter-party and regulatory inquiries as well as loss of market confidence and trust in services.
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