Investment management is an industry in constant expansion, with PwC recently estimating a USD35 trillion increase in the total global value of assets under management by 2025. Because of this growth, financial crime risks and regulatory scrutiny could also increase across the industry. 

Kovack Securities, an independent broker-dealer and registered investment adviser that oversees USD13.45 billion in total client assets, has selected Entreda to provide its 400 registered representatives and financial advisers with Entreda’s proprietary cyber platform, Unify.

Nearly half (45 per cent) of UK investment platforms have introduced either two factor authentication (2FA) or multi-factor authentication (MFA) finds research by NextWealth. 

PIMFA, the trade association for wealth management, investment services and the investment and financial advice industry, has welcomed the publication of the Online Safety Bill but calls on the Government to include all financial harms within the scope of the Bill. 

A coalition of organisations championing consumers, and representing civil society and business, have today joined forces to warn that the UK risks failing in its ambition to be the safest place in the world to be online, unless it uses new laws to protect people from an avalanche of online scams.

Rising global cyber security attacks being experienced by organisations, regardless of sector, size or perceived security levels is indicative of a new perfect storm that threatens all of us, the Chair of the Cyber Security Council warned delegates at PIMFA’s Financial Crime and Cyber Resilience Conference.

PIMFA, a trade association for the wealth management and financial advice industry, has announced Mitigo Cybersecurity as a PIMFA Plus partner offering member firms a trusted cybersecurity solution to help them protect against cyber-attacks and business disruption.

Fiduciary Trust International, a global wealth manager and wholly-owned subsidiary of Franklin Templeton, has introduced a new “digital vault” for encrypted document-sharing. 

The current Covid-19 crisis provides the financial services sector with an opportunity to respond to the needs of consumers, provide them with the help and support they will need in the coming months and help them stay safe from scams, Baroness Morgan of Cotes told delegates at PIMFA’s inaugural Virtual Fest on Wednesday (3 June).

Quilter is urging customers and advisers to be extra cautious about the risk of financial scams amid the coronavirus crisis.