The FCA has issued updated guidance for operational and cyber resilience as a result of the Russian invasion of Ukraine. Following on from this, Anthony Rafferty, CEO Origo, comments:
“While the National Cyber Security Centre says it is not aware of any current specific cyber threats to the UK following events in Ukraine, it is highlighting a need for increased cyber security vigilance amongst all firms.
“A core element of cyber security for providers, platforms and financial advice firms has to be securing their email communications.
“Email is vulnerable to hacking and attack, yet personal and confidential information is still being sent within open emails, which if obtained by malicious or criminal organisations can be used against individuals and companies.
“If we think about the personal detail that may be contained in communications between client and advice firm, provider or platform, it’s easy to see that if intercepted the consequences could be devastating both for the individual as well as for the company which could face fines and reputational damage, including lack of client trust.
“Using a military-grade encryption service secures the email in transit and ensures that only the intended recipient can access the email, and that the recipient knows it comes from a trusted source.
“Securing our emails has to be base-level security, and not just because of the current situation in Ukraine, but as good business sense.”
