The cyber threat lights are flashing – but do trustees know how to prevent incidents?
Published: October 26, 2022
Updated: October 26, 2022
The prevalence of cyber threats continues to rise, and no business is immune—especially pension and benefit plan Trustees, who handle today’s modern form of currency: personal data. From maintaining financial and member records to making investment decisions, Trustees are accountable for the proper management of all property and other assets under their fiduciary responsibility, with the main goal of the trust fund to provide benefits to its dependents and membership, making them an attractive target for cyber criminals.
Despite the efforts of cyber threat actors and their many methods of intrusion, one of the most effective means of defense is preparation. Those with oversight responsibility must anticipate, prevent, and prepare for potential attacks. Trustees need to take proactive steps to safeguard their clients’ personal data by following key strategies and tips explained in a featured article in the Plans and Trusts’ September/October 2022 issue.
The article examines the risks and threats posed by cyber criminals in relation to trust funds, how and when attacks may strike, and offers tips and strategies to help protect and combat these evolving threats.
To read the full article from Plans & Trusts, click below:
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Reproduced with permission from Plans & Trusts, Volume 40 No. 5, September/October 2022, pages 18-23, published by the International Foundation of Employee Benefit Plans (www.ifebp.org), Brookfield, Wisconsin. All rights reserved.