With major data breaches making headlines on a near-weekly basis, many in the securities industry have wisely begun to focus on developing an effective approach to cybersecurity. Although cybersecurity plans can vary widely among firms depending upon their business, clientele and technical architecture, among other things, effective plans include the following features.
1. Build a strong cybersecurity team
The first step in developing an effective approach to data security is choosing the right information security team. Effective teams are cross-sectional and include personnel from legal, information technology, human resources, and communications or public relations departments. The team should also include at least one member of senior management.
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