Private equity firms have a very different set of challenges. In addition to addressing cybersecurity risks, they also need to address Securities and Exchange Commission (SEC) compliance issues. This adds complexity to the overall scope causing inefficiencies in the execution phase.
Financial sector is also one of the most vulnerable sectors due to extensive integration and dependency on external sources. While the SEC has done its best, there are no industry-wide standardized security protocols. What complicates this further is the apparent “laid-back” approach by some private equity firms who consider cyber related financial loss as simply a cost of doing business. rather than proactively managing their cybersecurity risks.
At Armolon, we work with our financial partners to develop a sound cybersecurity framework as well as provide periodic risk assessment. From user credentials to authentication methods, systems firewalls, network segregation, and third-party vendor audit, we can provide a one-stop solution for our financial clients.