Financial advisers are failing to prioritise cybersecurity despite the growing sophistication of cyber threats, according to the Progeny Group former chief technology officer Tim Thompson Rye.
Speaking at the Financial Technology Research Centre's (FTRC) Empowering Advice Through Technology 2025 conference last week (30 January), Rye warned that cyberattacks are increasing in frequency and severity, yet many advice firms remain complacent. "Financial advisers don't think about cybersecurity. It's not a priority for advice firms when it absolutely should be," he said. "Cyberthreats are becoming more sophisticated. We're seeing more attacks." He stressed that while firms may struggle to match cybercriminals' pace, they can take a proactive approach to risk management. "How do...
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