When it comes to financial firms, having sound cybersecurity protocols and physically protecting systems may not be enough, says Joshua Horn of Fox Rothschild. He says that clients need to be a part of the security process to best protect their interests.
“Every firm should educate their clients (on) what types of materials, electronic or otherwise, that the client should expect to receive from the firm,” he says. It’s equally important to warn them about what they should watch out for. “For example, clients should be reminded that trades and money transfers are not handled via email,” he says. If they receive such a communication, it should be reported to the firm immediately.
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