In the News
Drawbridge is featured regularly in leading financial and cybersecurity publications. Explore the latest press coverage, interviews and expert commentary on how we help alternative investment firms raise their guard.
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Cyber Risk Continues to Plague Financial Services
Originally Published in Corporate Compliance Insights. The eventuality of a cyber attack is cause for concern for all kinds of organizations, but lately the financial services industry has been especially afflicted. Drawbridge’s Martin Passante explores the growing cybersecurity threat in financial services and how firms can proactively prepare. Cybersecurity is a growing concern for firms in…
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SEC’s OCIE RISK ALERT
On May 23, 2019, the Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) released a new risk alert identifying security risks associated with the storage of electronic customer records and information in various network storage solutions, including cloud-based storage. Some of the concerns brought to light from recent examinations were misconfigured…
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Press Release: Drawbridge Announces the Acquisition of inCyber Security Advisory Business
STAMFORD, CT, May 8, 2019 – Drawbridge, a premier cybersecurity consulting firm specializing in the needs of hedge fund and private equity managers, today announced the acquisition of inCyber Security, inCyber Compliance’s consultancy division. The acquisition gives Drawbridge a portfolio of high-profile and long-term clients as the firm continues its impressive growth and focuses on expanding…
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Hedge Funds Besieged by on Daily Basis
Hackers are exploiting inherent weaknesses in mature hedge funds on a daily basis, say a security vendor and the chief technology officer of an established fund, leading to huge boosts in cybersecurity spending. “Hedge funds are being targeted simply because of cash movements where frequent large transfers are normal at a small business that doesn’t…
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Cybersecurity News Alert: SEC Infiltration EDGAR System Hack
On Tuesday, January 15th, the U.S. Securities and Exchange Commission (SEC) announced that it charged nine defendants in an alleged hack of the SEC’s EDGAR system. The hackers allegedly infiltrated the SEC EDGAR system and extracted nonpublic information to use for illegal trading, ultimately profiting $4,135,015 in the process. The hackers mostly stem from Ukraine…
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Cybersecurity News Alert – Microsoft
Microsoft Internet Explorer Alert: On Wednesday, December 19th, Microsoft released a critical security update for Internet Explorer after receiving a report about a new vulnerability being used in targeted attacks. The browser’s vulnerability could allow an attacker to gain the same user rights as the current user. If that user has administrative rights, the attacker…
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Cybersecurity News Alert – U.S. Securities and Exchange Commission (SEC)
SEC Cybersecurity News Alert: On Thursday, December 20th, the U.S. Securities and Exchange Commission (SEC) released the examination priorities for 2019. The SEC has shifted their examination priorities from years past in an effort to adapt to emerging risks, but cybersecurity continues to remain a top priority for the SEC. The SEC will be focusing…
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CYBERSECURITY NEWS ALERT: December 2018
On December 20th, the Financial Industry Regulatory Authority (FINRA) released a report detailing the effective cybersecurity practices and common risks observed during recent examinations. The report focused on the following key areas: Branch Controls Phishing Attacks Insider Threats Penetration Testing Mobile Device Security Branch Controls: Maintaining rigorous cybersecurity controls is a firm’s best defense against attacks…
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Nearly one-third of firms face up to 10 cyber attacks – Business Insurance
A report by U.K.-based Sapio Research found that more than 30% of local financial firms suffered up to 10 cyberattacks in the last 12 months, Finance.co.uk reported. The report found that financial firms experienced an average of five attacks apiece. Nearly half of IT executives said that small businesses do not know how to implement…
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Lessons From the SEC’s First Red Flags Rule Settlement – The Cybersecurity Law Report
Thumb drives are often considered unassuming devices that make the transfer of digital data easy through quick access to ports from one device to another. However, recent findings from the FBI have shown malicious parties using thumb drives in order to infect recipients’ computers with malware. Cybersecurity Dangers of Thumb Drives Cyber attacks have been…
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Cybersecurity News Alert – SEC
SEC Cybersecurity News Alert: Today, the Securities and Exchange Commission (SEC) announced that a Des Moines-based broker-dealer and investment adviser has agreed to pay $1 million for its failures in cybersecurity policies and procedures surrounding a cyber-breach. The charge against Voya Financial Advisors Inc. (VFA) is the first SEC enforcement action charging violations of the…
