In a recent interview with Help Net Security, Renana Friedlich-Barsky, EVP and CISO at LPL Financial, dives into the evolving threats targeting high-net-worth clients in wealth management. She highlights the importance of integrating security from the ground up to safeguard sensitive assets while ensuring a seamless client journey.
Key Points
- Threat actors are using sophisticated tactics to target wealth management clients.
- High-net-worth individuals are particularly attractive targets due to their valuable assets.
- Embedding security from the start of digital initiatives is crucial for risk management.
- Collaboration between CISOs and business leaders is key to aligning security with business objectives.
- Mobile-first services must prioritise client safety through secure verification methods.
Content Summary
The interview sheds light on how cybercriminals are increasingly targeting high-net-worth individuals through advanced phishing tactics using emails, texts, and calls. Clients are advised to be vigilant about sharing personal information on social media, especially details that could be exploited for scams.
To combat these threats, CISOs must work closely with business leaders, aiming for a security-by-design approach in digital projects to mitigate risks from the outset. Creating a zero-trust environment is essential to protect sensitive data, ensuring compliance and fostering client trust.
Moreover, the conversation addresses the gaps between digital innovation and cybersecurity, stressing the importance of engaging security teams early in project lifecycles to avoid costly mistakes. As wealth management firms shift to mobile-first strategies, maintaining strong authentication methods alongside user-friendly experiences is imperative to safeguard clients’ information while meeting their expectations for convenience.
Why should I read this?
If you’re in the wealth management sector or even just curious about the balance between security and client experience, this article is a must-read. Friedlich-Barsky’s insights highlight how crucial integrating cybersecurity into the core of digital services is, especially for high-net-worth individuals. Don’t get caught off-guard—arm yourself with knowledge to keep client experiences slick and secure!