The UK’s Investment Association (IA) and KPMG have launched a report on cyber security risks in asset management and the steps can be taken to build cyber resilient businesses.
The report ‘Building Cyber Resilience in Asset Management’ was launched at the IA’s first cyber security conference for asset management.
Last month the IA also launched a cyber security committee in a bid to prompt industry-wide collaboration on the issue.
The committee, which met for the first time last month, will work with firms, regulators and public authorities to develop cyber security industry guidance.
Chris Cummings, chief executive of the Investment Association, said: “The asset management sector is prioritising cyber defence, mitigation and resilience to develop a corporate culture that embraces cyber security at its heart.”
He added: “Cyber security issues are not going away and businesses need to understand, manage and mitigate potential cyber security risks.”
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