Is It Time to Level-Up Your Cybersecurity?

Cybersecurity Defined

Chances are, you’ve made sure your office computers follow the Branch Office Security Policy (BOSP). But did you know there are many ways to improve your cybersecurity? FINRA has observed an increase in the variety, frequency, and sophistication of cybersecurity incidents. These incidents can lead to financial losses, reputational risks, and operational failures for firms, which is why it is so important to have a strong cybersecurity practice in place.  

The Cybersecurity and Infrastructure Security Agency (CISA) defines cybersecurity as “the art of protecting networks, devices, and data from unauthorized access or criminal use and the practice of ensuring confidentiality, integrity, and availability of information.”  

Cybersecurity involves safeguarding networks, devices, and data from unauthorized access. For financial professionals, this means protecting all business and client information, including personally identifiable information (PII) and emails. 

High Stakes for Small Businesses

Cybercriminals look for weak points to access financial information and PII. Small businesses, with significant PII and assets, are prime targets. Large corporations are less vulnerable due to robust enterprise-level cybersecurity measures that monitor potential entry points around the clock.

Where to Start

Being in compliance with the BOSP is a solid first step. Keep in mind, though, that this basic level of protection doesn’t account for three of the most common and aggressive attack strategies employed by cybercriminals today:

• Crypto-ransomware
• Point-of-entry attacks
• Vulnerabilities in your operating system

Enhance your cybersecurity by using enterprise-level systems that proactively detect and address attacks. This can save time and resources, and prevent costly disruptions. Additionally, it helps safeguard your clients’ private information and reduces reputational risk.

Secure Office: One New Way to Enhance Your Cybersecurity Game

With a subscription to LPL’s Secure Office, you have immediate access to LPL enterprise-level cybersecurity. Files and PII are protected with a next-generation cybersecurity suite that hunts, detects, and remediates any potential attacks.

This upgraded cybersecurity system is like the difference between having a security guard at the door checking badges, and the secret service combing every entry point of the entire building and watching what everybody is doing.  

For financial professionals, the stakes couldn’t be higher. One attack could harm the clients you work so hard for, put your reputation at risk, and have a ripple effect for years to come. 

Ready to learn more about your options? Here are some helpful links to check out:

Are you in compliance with the Branch Office Security Policy? Review now »

Do you want to take LPL’s free cybersecurity risk assessment? Get started »

Are you ready to level-up your cybersecurity with Secure Office? Learn more »

References:
Report on Cybersecurity Practices - FINRA.org
FINRA Publishes 2024 Regulatory Oversight Report