In an era where cyber threats loom large over every industry, asset managers find themselves in an increasingly precarious position. With substantial assets under management (AUM) and access to sensitive client data, these firms are prime targets for cybercriminals. Yet, many lack the robust defense of their larger financial counterparts.
Why Asset Managers Are High-Value Targets
Asset managers are attractive targets for cybercriminals because of the potential financial rewards they offer. Unlike retail banks, which often have extensive cybersecurity measures in place, many asset management firms operate with leaner teams and smaller IT infrastructures.
“Cybersecurity measures are increasingly becoming a priority for companies across all industries, but specifically for financial services companies. These organisations, namely asset managers, are often more targeted because of the…
