SS&C Blog

BLOGS. January 15, 2019

Securing Client Information: A Prime Target for Cyberthieves

In recent years, regulators have made it clear that cybersecurity is a major focus of examinations and risk assessments of wealth management and advisory firms. Compliance isn’t the only reason to be concerned about security, however. Firms have a fiduciary duty to protect their clients’ confidential personal and financial information. What security experts call PII – personally identifiable information, such as social security numbers, birth dates, account numbers and other highly sensitive data – is the prime target of cyberthieves. The theft of such data could have dire reputational and financial consequences.