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June 12, 2017

SEC: Cybercrime is 'Greatest Threat to Our Markets'

Last week, the U.S. Securities and Exchange Commission (SEC) named Steven Peikin and Stephanie Avakian as its new co-directors of enforcement.

Already, one thing is clear:

Both are deeply concerned about cybercrime, the New York Times reports.

"The greatest threat to our markets right now is the cyber threat," said Peikin during a recent interview. "That crosses not just this building, but all over the country."

As the New York Times pointed out, cybercriminals are becoming increasingly adept at hacking into brokerage accounts in order to make illegal trades and steal assets.

Earlier this year, for instance, CNBC pointed out that fraudsters are using email to spoof brokers into thinking they are actual customers. According to the Financial Industry Regulatory Authority (FINRA) disciplinary database, there have been at least 42 instances  of successful fraudulent transfers dating back to 2012.

Of course, email spoofing isn’t the only tool that hackers are using to cause mayhem. They are also using sophisticated and extremely dangerous new types of malware. According to a recent study from Symantec, the malware that is targeting the financial industry is now 2.5 times stronger than other threats.

So, are you ready to protect your firm from cybercrime?

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To learn more about Apex Technology Services, click here.

A new breed of hacktrepeneurs has awoken and they have little to fear and everything to gain by infecting as many companies as possible and extorting money from them. Apex Technology Services stands ready to protect your company regardless of whether it’s located in New York CityWhite Plains, New York; Connecticut; Australia; Europe; or anywhere else. Our full suite of cybersecurity and IT support services is at your disposal, enabling you to spend less time worrying about and more time growing your business.

To ensure your security, consider one of our most popular services — Auditing & Documentationwhich pinpoints vulnerabilities in your infrastructure, process flow and internal security procedures.

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