• Home
  • About Us
  • Contact
  • Your Account
  • Subscribe
No Result
View All Result
Wednesday, February 1, 2023
Alternatives Watch
  • Hedge Funds
    • Manager News
    • Mandates
    • Service Provider News
    • CTAs/Managed Futures
  • Private Equity
    • Manager News
    • Mandates
    • Service Provider News
  • Private Credit
    • Manager News
    • Mandates
    • Service Provider News
  • RE/Infrastructure
    • Manager News
    • Mandates
    • Service Provider News
  • Investor News
    • Endowments and Foundations
    • ESG
    • Pensions
    • Platforms
    • Consultants
  • Research
    • Investor Scorecard
    • Manager Scorecard
  • Subscribe
  • Log In
  • Hedge Funds
    • Manager News
    • Mandates
    • Service Provider News
    • CTAs/Managed Futures
  • Private Equity
    • Manager News
    • Mandates
    • Service Provider News
  • Private Credit
    • Manager News
    • Mandates
    • Service Provider News
  • RE/Infrastructure
    • Manager News
    • Mandates
    • Service Provider News
  • Investor News
    • Endowments and Foundations
    • ESG
    • Pensions
    • Platforms
    • Consultants
  • Research
    • Investor Scorecard
    • Manager Scorecard
  • Subscribe
  • Log In
No Result
View All Result
Alternatives Watch
No Result
View All Result

Regulators warn managers to take cybersecurity risks from Ukraine war seriously

George RalphbyGeorge Ralph
July 20, 2022
in Hedge Funds, Service Provider News
SEC warns investorS on cyber risks from Ukraine war

By DC_Studio

ShareTweetShareSendSend

Financial markets in the U.S. have continued to grow increasingly complex, volatile, and competitive since the pandemic. With this rapid change comes an increased threat of cyber-attacks from bad actors who wish to take advantage of possibly distracted investment managers.

It is evident the SEC has designated cybersecurity a primary focus as attacks, such as ransomware and phishing, grow in popularity among bad actors. The need for thoughtful monitoring for these types of threats has dramatically increased as geopolitical tensions across the globe rise, especially because of the conflict in Ukraine.

As a result of Russia’s invasion of Ukraine, the SEC issued a warning earlier this year to investment managers around cybersecurity risk. The SEC is continuously assessing the Russian government’s malicious cyber activities, especially those that put U.S. investors at risk. It declared that the conflict could impact firms both on U.S. soil and beyond its borders, illustrating that the Russian government is engaging in malicious cyber activities in order to carry out cyber espionage, steal intellectual property, disrupt social and political activity and cause significant harm to both regional and international adversaries.

Firms are warned to keep a watchful eye

In an Annual Threat Assessment conducted by the U.S. Office of the Director of National Intelligence, the agency declared that “Russia is continuing to target critical infrastructure. This targeting includes industrial control systems and underwater cables in the U.S. and the country’s partners and allies. As Russia becomes more sophisticated in compromising such infrastructure, its chances to cause damage during a crisis increase for us all.”

 The U.S. Office of the Director of National Intelligence also believes that Russia will consider responding with cyberattacks as a way “to deter adversaries, prosecute conflicts and control escalation.” With evolving intelligence indicating that threat activity from the Russian Government is becoming increasingly more probable, the SEC has cautioned U.S. firms to be prepared for if and when an attack could arise. 

As part of the caution issued by the SEC, it was stated that the CISA, the national cyber defense agency in the U.S., has asked firms to report any cyberattacks from Russia quickly. When reported quickly, the CISA can use the information to prevent other organizations becoming a victim to a similar attack.

The Importance of cybersecurity support

Preparing for disruptive cyber incidents is crucial for all organizations, regardless of their size. In the event of a cyber intrusion, firms must be able to respond quickly and be able to mitigate the impact of such an event. Firms should carry out a risk-based approach to cybersecurity attacks, particularly through managed detection response methods, such as all-inclusive anomaly detection and real-time risk containment 24/7/365, if available. By applying this approach, firms can identify the highest areas of risk within the infrastructure of their organization to develop strategies to manage and mitigate those risks.

With its guidance and support to empower investment companies, broker-dealers, investment advisors, hedge funds and other market participants, the SEC has made it clear that all organizations should be prepared for cyberattacks that are event driven in the wake of the Russia-Ukraine War.

Tags: Cybersecurity
ShareTweetShareSendSend
Previous Post

CIO Talks: David Greenberg of The California Endowment

Next Post

PGIM breaks origination record in H1

George Ralph

George Ralph

George Ralph is global managing director and CRO at RFA. He is a certified cyber assessor, auditor and architect and widely experienced cybersecurity professional. He is also an Assessor for the British Computer Society (The institute of IT) and a Certified IT professional.

Related Posts

MFA welcomes UK regulator's recognition of short selling in ESG
ESG

MFA welcomes UK regulator’s recognition of short selling in ESG

Titan’s Morgan reveals how she is keeping up with crypto
CTAs/Managed Futures

Titan’s Morgan reveals how she is keeping up with crypto

NY pension adds $1.2bn across PE, credit, HF and real estate programs
Pensions

NY pension adds $1.2bn across PE, credit, HF and real estate programs

AI hedge fund Castle Ridge builds success with multi-model system
Hedge Funds

AI hedge fund Castle Ridge builds success with multi-model system

Long/short hedge funds struggle as redemptions surge
Hedge Funds

Long/short hedge funds struggle as redemptions surge

Next Post
PGIM breaks origination record in H1

PGIM breaks origination record in H1

Log In/Out

Lost your password?

Search the AW Archives

No Result
View All Result

Recent News

Patient Square closes inaugural fund at $3.9bn

Patient Square closes inaugural fund at $3.9bn

MFA welcomes UK regulator's recognition of short selling in ESG

MFA welcomes UK regulator’s recognition of short selling in ESG

Titan’s Morgan reveals how she is keeping up with crypto

Titan’s Morgan reveals how she is keeping up with crypto

CPP invests in India's largest logistics RE markets

CPP invests in India’s largest logistics RE markets

Be an Alts Insider

Sign up for your FREE daily alts news briefing

Subscribe

Subscribe to AW
Alternatives Watch

© 2019-2022, All Rights Reserved  |  BMV Digital

Navigate Site

  • Hedge Funds
  • Private Equity
  • Private Credit
  • RE/Infrastructure
  • Investor News
  • Research
  • Subscribe
  • Log In

Follow Us

No Result
View All Result
  • Hedge Funds
    • Manager News
    • Mandates
    • Service Provider News
    • CTAs/Managed Futures
  • Private Equity
    • Manager News
    • Mandates
    • Service Provider News
  • Private Credit
    • Manager News
    • Mandates
    • Service Provider News
  • RE/Infrastructure
    • Manager News
    • Mandates
    • Service Provider News
  • Investor News
    • Endowments and Foundations
    • ESG
    • Pensions
    • Platforms
    • Consultants
  • Research
    • Investor Scorecard
    • Manager Scorecard
  • Subscribe
  • Log In

© 2019-2022, All Rights Reserved  |  BMV Digital

Be an alts insider

Start your days in the know with our free newsletter

No, I don't want to be an alts insider

Thank

You!

Follow us
on LinkedIn

Lost your password?

Cookie Consent
We do not use cookies on our website other than those that are strictly necessary for the website to function. By clicking “Accept”, you consent to the use of all six strictly necessary cookies.
Do not sell my personal information.
Cookie Settings Accept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Save & Accept
Powered by CookieYes Logo