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2021 SEC OCIE Cybersecurity Exam Priorities

Yesterday the U.S. Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) released its 2021 exam priorities. In the letter the SEC highlighted that their focus remains the same from prior years with a slight shift in priorities and adjustment of focus. The SEC stated that they will review whether firms have

OCIE issues a new alert: “Credential Stuffing”

Yesterday The Office and Compliance Inspections and Examinations ("OCIE") issued an alert about safeguarding client accounts against credential compromise that highlighted the issue of "credential stuffing attacks". Credential stuffing is a type of cyber attack where many compromised user credentials are tried against systems to gain unauthorized access, using automated means. Over the past few

2020-12-31T18:42:56-05:00September 16th, 2020|BEC, Business Email Compromise, Cyber, Hackers, Hedge Fund, OCIE, Password, Phishing, Private Equity, RIA, SEC|

OCIE issues a new Cybersecurity: Ransomware Alert

Today the OCIE issued a Ransomware Alert, highlighting an uptick in sophisticated social engineering and other cyber campaigns, designed to infiltrate the networks of financial institutions to access sensitive information and/or to deploy ransomware. As a reminder, ransomware actors typically demand monetary payment for the return of data. We can spend time regurgitating what was

Three UK-based Private Equity firms lose 1.3 million dollars to cyber criminals

  The team at Check Point identified that cyber criminals - dubbed the Florentine Banker - targeted three Private Equity firms and stole over $1.3 million dollars, with only about half the money recovered. The cyber criminals launched an email spear-phishing campaign targeting executives, and other high-profile employees in an attempt to gain access to

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