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Hedge fund industry’s cybersecurity defences under increased strain post-pandemic, says new report

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Two years of working mostly remotely has added significant strain to the hedge fund industry’s cybersecurity defences and resiliency, according to a new report by cybersecurity and managed IT provider Agio.

The added surface area required to support remote investment teams has taxed the industry as firms report increased attack frequency and severity.

Convergence of IT and cyber teams are among the top actions firms are taking to improve cyber posture in a post-pandemic world.

The inaugural 2022 Hedge Fund Cybersecurity Trends Report reveals the opinions and perceptions of recent, current, and future cybersecurity programs, readiness, and initiatives from 100 hedge fund practitioners across the technology, operations, cybersecurity, and compliance fields.

The report also examines how the pandemic has made it essential for cybersecurity teams and technology teams to work together as a “single, holistic unit” to bolster a firm’s cyber posture. In fact, across every major demographic surveyed, this belief was held almost unanimously.

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