RIA Archives - Elteni

Phantom Extortion Phishing Targeting Financial Services Firms!

Elteni — Wed, 22 Mar 2023 22:35:36 +0000

Recently a few of our clients were recipients of phishing email leveraging scare tactics, also known as the Phantom Extortion Scam. This scam involves cyber criminals sending fake emails or messages to individuals or businesses, claiming that there has been a security breach or incident involving sensitive client or organization data. The cyber criminals then

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The SEC proposes new Cybersecurity rules

Elteni — Wed, 09 Feb 2022 22:48:34 +0000

Earlier today the Securities and Exchange Commission voted to propose rules related to cybersecurity risk management for registered investment advisers, and registered investment companies and business development companies (funds), as well as amendments to certain rules that govern investment adviser and fund disclosures. The SEC Chair Gary Genlser stated that the proposed rules and amendments

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Next Generation Ransomware Attacks

Elteni — Sat, 09 Oct 2021 10:09:49 +0000

Ransomware, the word alone evokes fear into many companies. How did this form of crime actually start? In 1989, Dr. Joseph L. Popp created the first ransomware called the "AIDS Trojan." This trojan virus encrypted files on a computer after rebooting a number of times. Fast forward to 2006, Archiveus, a computer virus that affected

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The SEC issues fines for deficient cybersecurity programs!

Elteni — Mon, 30 Aug 2021 22:01:21 +0000

Today the Securities and Exchange Commission (SEC) sanctioned eight firms in three actions for failures in their cybersecurity policies and procedures that resulted in email account takeovers exposing the personal information of thousands of customers and clients at each firm. A total of $800,000 were levied against these firms. In summary, the firms named in

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2021 SEC OCIE Cybersecurity Exam Priorities

Elteni — Thu, 04 Mar 2021 05:36:42 +0000

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

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Elteni is shortlisted for Best Cybersecurity Solution – 2021 Fund Intelligence Operations and Services Award

Elteni LLC — Fri, 11 Dec 2020 01:17:15 +0000

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OCIE issues a new alert: “Credential Stuffing”

Elteni LLC — Wed, 16 Sep 2020 13:30:23 +0000

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

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OCIE issues a new Cybersecurity: Ransomware Alert

Elteni LLC — Fri, 10 Jul 2020 22:36:20 +0000

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

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Technology, security, and privacy in a Work From Home (WFH) environment

Elteni LLC — Thu, 14 May 2020 23:25:58 +0000

Will Work From Home (WFH) be an Alternative Asset Management Firm’ new norm? Firstly, let me address the question that comes to mind after reading the title, this isn’t just another article about how COVID-19 has affected us………now keep reading. I’m not writing this article to express my opinion about whether WFH is good or

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