Cybersecurity Threats Facing Hedge Funds In 2015 – ValueWalk Premium
Cybersecurity Threats Facing Hedge Funds

Cybersecurity Threats Facing Hedge Funds In 2015

The Great Online Bank Robbery of the Carbanak Cyber Gang stealing $1 billion from 100 banks worldwide marks the beginning of a new stage in the evolution of cybercriminal activity, where malicious users steal money directly from banks and financial institutions, and avoid directly targeting the end users.

Cybersecurity Threats Facing Hedge Funds In 2015

In this Opalesque.TV video interview, Bob Guilbert and Vinod Paul from Eze Castle Integration discuss the cybersecurity landscape of the investment community, specifically the risks facing hedge funds and alternative investment managers in 2015. Both spend the majority of their time educating their client base on internal and external risks, protecting them against the “Activist Hacktivists” looking for any means of entry into funds.

These hackers will spend weeks, months, and sometimes even years trying to get access, most often with the goal of triggering illicit wire transfers out of the fund.

Today, the usual efforts of employees to avoid clicking links or opening files and password protocoling aren't enough. Everyone should be aware of new techniques employed by hackers like “spearfishing” and “whaterhole” attacks which, with more institutional dollars flowing into hedge funds, will become more frequent. Unless funds have the right Written Information Security Policy (WISP) and processes in place, together with true intrusion detection that monitors what is coming into the firm and what data and information is going out of the firm, they can be at risk of a cybersecurity attack.

Learn more about:

  • “Spearfishing” attacks to wire transfers
  • “Waterhole” attacks: Why actions such as ordering from an online menu can put your firm at risk
  • SEC requirements and best practices
  • Defining a “WISP” – Written Information Security Policy
  • Multiple points of entry holding information across service provider platforms
  • Eze Castle and eSentire Partnership
  • Increasing cloud adoption rates in larger funds
  • Shift in perception of cloud safety

About Paul Vinod: Leading a talented team of customer service and engineering professionals, Vinod Paul oversees all customer-facing engagements for Eze Castle Integration. Vinod joined the company in 2002, and his responsibilities include service delivery and business development for the firm. Previously, Vinod was the director of technical services for Martin Progressive, supervising a staff that supported 6,000 customers. Prior to that, he provided project management and engineering consulting services to IBM Global Services, Lucent Technologies, Tyco Submarine Systems, and Penguin Putnam Publishing. Vinod serves on the board of directors for Hedge Funds Care, a global nonprofit dedicated to supporting efforts to prevent and treat child abuse. He is a graduate of Rutgers University with a Bachelor of Science degree in biological sciences. He also holds numerous advanced certifications with Microsoft.

About Bob Guilbert: With more than 25 years of IT experience, Bob Guilbert is responsible for leading all of Eze Castle Integration's marketing, partnership and product development functions. The scope of his efforts ranges from maximizing the value of the company's brand to establishing core strategic partnerships and developing new revenue streams for the company. Prior to joining Eze Castle, Bob was vice president of business development at Virtual Iron Software — a venture-backed start-up offering enterprise-class data center virtualization software. At Virtual Iron, Bob developed and oversaw all facets of business development and channel management. Bob has also held senior marketing and business development positions at Double-Take Software (formerly NSI), EMC Corporation, and Digital Equipment Corporation. Bob is fluent in German and graduated from Northeastern University in Boston with a Bachelor of Science degree in computer science.

Via Opalesque.TV

Cybersecurity Threats Facing Hedge Funds

Comment (1)

  • Mary ancita

    Great article, hedge funds have been exposed to cyber security threats for long and have been targeted by hackers recently, I work with McGladrey and this video on hedge fund cyber security will interest readers of this post. McGladrey are also hosting a three-part webcast series to understand how you can step up your security posture and data breach preparedness you can register at the link.

    February 18, 2015 at 11:11 am


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