Drawbridge, a provider of cybersecurity software and solutions to the alternative investment industry, has named Scott DePetris as President and Chief Operating Officer (COO) and appointed him to the Board of Directors.
The coronavirus pandemic has brought about a sea change in hedge funds’ cybersecurity concerns, with the remote working environment pushing firms to re-evaluate how they safeguard and secure data and privacy in the cloud amid a rise in phishing attacks.
The Financial Conduct Authority (FCA) has sent 4,430 of its employees on compulsory cyber and information security courses over the past two financial years – (FY 19-20 and FY 20-21) – to help combat the growing threat of financial crime, such as money laundering and fraud, according to official figures.
Opimas estimates that over USD190 billion worth of bitcoin is currently at risk due to sub-par safekeeping
A number of institutional participants and even some large cryptocurrency exchanges are relying on sub-par custody approaches when holding digital assets on behalf of clients, according to Opimas, with the company estimating that over USD190 billion worth of bitcoin is currently at risk as a result.
RFA: Best Cybersecurity Provider – The past year highlighted the importance of tenacity alongside the agility to absorb shocks and respond rapidly to new ways of working. In addition, the drive to build sustainability into a business has also come to the fore.
Advanced security capabilities for institutional XDC blockchain protocol deployed by Bitfi and XinFin
Bitfi and the XDC Network (XinFin) have announced the imminent deployment of advanced security features for the XDC protocol and digital asset to extend the Protocol's security to the user interface and private key management.
Drawbridge, a provider of cybersecurity software and solutions to the alternative investment industry, has closed a minority investment from Long Ridge Equity Partners.
Komainu, an institutional grade digital asset custody services provider, todhasay announced a framework service agreement with Derbyshire Constabulary on behalf of the National Police Chiefs’ Council Cybercrime Programme.
By George Ralph (pictured), Managing Director, RFA – The coronavirus pandemic has brought considerable challenges to the way hedge funds and asset management firms do business, with far-reaching consequences for cybersecurity, data safety and business communications. The need for fully flexible working around the pandemic continues to change. Collaboration tools have been key to successful working environments as staff need to work in the same way and securely, regardless of location.
Managers should be looking to shore up their internal processes and security, focusing on improved end-point protection and appropriate training for staff to recognise anomalies. This is critical as cybersecurity develops further to keep ahead of the hackers.