By Hedge Fund Insight staff A hedge fund based in Sydney Australia has been the victim of a cyber attack that ultimately put it out of business. The rogue software was delivered via a Zoom invitation. Fake invoices were sent to the fund’s trustee and fund administrator leading to payments totaling $8.7m. Levitas Capital was […] Read more »
Infographic: Financial Service Cyber Attacks Up Fivefold In 2018
From TransWorldCom According to the Financial Conduct Authority, the UK saw a fivefold increase in data breaches in 2018 compared to the year before: Companies reported 145 breaches last year, compared to only 25 in 2017 In April 2018, seven retail UK banks, including Royal Bank of Scotland, Santander, Barclays and Tesco Bank had to shut […] Read more »
Top Tips for Buying Directors and Officers Insurance
By David Turner, Vice President at JLT My colleagues and I routinely uncover risk oversights (which I also refer to as “D&O Insurance FAILS”) during discussions with CFOs, COOs, CAOs, CCOs and the General Counsel of private and publicly-traded organizations. Here are 4 real-world examples of “D&O Insurance FAILS” that may alter a company’s approach to […] Read more »
Implications For Hedge Funds From Equifax Cybersecuity Breach
From Mark Sangster, VP and Industry Security Strategist, eSentire/ Hedge Fund Insight staff You’re likely already aware of the Equifax breach, which is said to have possibly affected the personal information of as many as 143 million people. Many are talking about the delay in the disclosure of the security breach, and more importantly, […] Read more »
More than the Money: Seven Steps to Protect Your Firm from the Fallout of a Cyberattack
By Constance N. Hubbell, President, The Hubbell Group, Inc. Asked why he robbed banks, legendary bandit Willie Sutton said, “Because that’s where the money is.” Today, many criminals steal with laptops, not guns, but they still go where the money is, and – with $3 trillion in assets under management[1] – hedge funds are […] Read more »