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Industry News: ESG5

    Regulators and Supervisors Divide Over Third-party Concentration Risk

    2020-03-03

    Bob's Guide: According to James Kemp, managing director, Association for Financial Markets in Europe (AFME), there is uncertainty over how to regulate concentration risk in a way that does not stifle innovation or eradicate smaller third-party suppliers.

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    Hackers and Cryptocurrencies: Nearly $10B Stolen Since 2017

    2020-03-02

    Cryptopolitan: As per the report, hackers have stolen at least 9.8 billion dollars in crypto from investors and holders. KPMG, one of the big four accounting firms, stated that it was essential for the crypto industry to improve security before it can truly grow.

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    Email Scammers Are Savvier, and More Successful, Than Ever

    2020-02-27

    The Wall Street Journal: Email scams—often riddled with typos and written by non-native English speakers in Africa—were once crude attempts to steal money from inexperienced computer users. No more.

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    Jupiter's de Blonay: the Financial Bet You Didn’t Expect to Boom

    2020-02-25

    City Wire:  In a commentary piece, de Blonay, who runs the Jupiter JGF Financial Innovation fund,  said the cyber security software market is estimated by industry experts to grow 8.6% per year to around $82bn by 2024.

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    Seven Hackers Have Now Made a Million Dollars Each from Bug Bounties, Says HackerOne

    2020-02-25

    ZDNet: Hacking is growing, but in some cases, that's no bad thing. That's the main take-away from the annual report on the state of ethical hacking published by bug bounty platform HackerOne. As of 2020, the organization can boast a base of 600,000 white hat hackers; a community twice as big as the previous year, which altogether cashed in a record $40 million in bounties in the past 12 months. 

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    Georgia, Backed by U.S. and Britain, Blames Russia for 'Paralyzing' Cyber Attack

    2020-02-20

    Reuters: Britain and the United States joined Georgia on Thursday in blaming Russia for a large-scale cyber attack last year that knocked thousands of Georgian websites offline and disrupted national television broadcasts.

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    Cybersecurity Strategies for the Adviser Industry

    2020-02-20

    Plan Adviser: Retirement plan advisers not only have rigorous cybersecurity responsibilities of their own—they also need to proactively help their plan sponsor clients establish airtight cybersecurity firewalls and procedures, industry experts say.

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    Equifax: US Charges Four Chinese Military Officers Over Huge Hack

    2020-02-11

    BBC: More than 147 million Americans were affected in 2017 when hackers stole sensitive personal data including names and addresses. Some UK and Canadian customers were also affected. China has denied the allegations and insisted it does not engage in cyber-theft.

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    Why Asset Managers Land in the Dog House

    2020-02-04

    Institutional Investors: Investment firms that get hacked, hike fees, or switch portfolio managers can expect to land in the hot seat with their institutional clients. 

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    Cyber Firm Callsign Set to Unveil Bumper JP Morgan Backing

    2020-02-04

    City A.M.: Callsign, which uses AI to verify the identity of users, is signing off on a deal with JP Morgan Asset Management, which manages $2 trillion (£1.5 trillion) for global clients, Sky News reported.

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