FINRA Issues Report on Best Cybersecurity Practices

FINRA's 19-page report highlights the following five topics:

• Cybersecurity controls in branch offices;
• Methods of limiting phishing attacks;
• Identifying and mitigating insider threats;
• Elements of a strong penetration-testing program; and
• Establishing and maintaining controls on mobile devices.

A cybersecurity report from the antivirus software maker Norton found 143 million U.S. consumers were victims of cybercrime with total losses of $19.4 billion in 2017.

Furthermore, a recent poll funded by the insurance firm Aon found that of the 5.3 million high-net-worth individuals in the U.S., 77% are more concerned about the cybersecurity risks affecting their personal finances than traditional wealth management challenges, such as market volatility (60%) or changing interest rates (39%).

"There is no one-size-fits-all approach to cybersecurity, so FINRA has made a priority of providing firms with reports and other tools to help them determine the right set of practices for their individual business," said Steven Polansky, senior director, member supervision in FINRA's Washington, D.C. office.

More resources, as well as a podcast and video based on the 2018 report, are available at FINRA.org's cybersecurity topic page.