The Financial Services industry is one of the the most hacked industry according to Ponemon’s survey – a leader in defining the true cost of compliance.
The below article focuses on how it is getting harder for hedge funds to deal with compliance for anti money laundering and recent regulations such as FATCA. Also discussed is how the the amount of sensitive data stored continues to grow.
See article —EUREKA HEDGE
Protecting client information is paramount for hedge funds and that job is getting increasingly harder. This is even harder for the firms with less AUM that do not have the same infrastructure for data protection.
This is an area where traditional insurance is not adequate to properly protect a firms strategic and business risks. Proactive measures regarding internal and external data security as well as proactive reputation management are key to insulating the firm from the many exposures that threaten the company.
A proper risk reduction plan and insurance program is necessary to manage risk for a hedge fund or other similar firms with AUM. Deland, Gibson has proprietary risk management systems to help firms address this and lower their Total Cost Of Risk.
Contact Chip Gibson at Deland, Gibson for more info on the DGDifference.