Broker Check

Russia’s War in Ukraine Should Have Firms and Advisors Beefing Up Cyber Protections

From Wealth Solutions Report:

Russia’s invasion of Ukraine is nothing less than tragic. It’s produced a senseless loss of thousands of lives, caused a mass migration, and resulted in billions of dollars’ worth of property damage.

This, of course, is not the first time Russia has acted out on the world stage in recent years. It annexed Crimea in 2014 and has long been a hub of cyberterrorism activity against Western countries, either by carrying out attacks itself or harboring those that do – including, experts suspect, the group responsible for disrupting the Colonial Pipeline last May.

Many believe that as the war continues, Russia’s cybercrimes will only escalate. Are U.S.-based independent financial firms or advisors likely targets for malicious actors on a global scale? Perhaps not. Still, as threats become increasingly sophisticated and cybercriminals search for additional victims, it makes sense for any business to harden its digital defenses.

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