As someone who's been close to technology since my days in Silicon Valley, I don't see the issue going away anytime soon. Even Apple is paying heed to security with its new iOS9, adding two-factor authentication for your ID and stronger encryption to ward off hackers.
The impact can be huge: Not only to your reputation, but the cost of a successful cyberattack is about $20 million for a financial services firm, $14.5 million for those in the tech sector, $12.7 million in communications and $8.6 million in retail, according to research from the Ponemon Institute referenced in a Heritage Foundation report. Deloitte also states that the financial services sector faces the greatest economic risk related to cybersecurity.
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What can you, as a firm or leader, do to protect your data and reputation?
I've talked to CEOs, CMOs, wealth management leaders and advisors about navigating the new world proactively and easily. Here are five key areas to consider if you haven't already: