Fintech company Midwinter has announced the launch of a cyber security service for financial advisers.
In a statement yesterday, Midwinter announced it will launch Kamino – a service that will allow advisers to conduct a cyber security ‘health check’ of their business.
The offering will include vulnerability assessments, penetration testing and ongoing monitoring in order for advice practices and licensees to assess the strengths and weakness of their systems.
Managing director of Midwinter Julian Plummer said it is important that advisers can carry out regular cyber security audits.
“Advisers and accountants spend a great deal of time ensuring they are compliant with ASIC’s regulatory guides, meet their obligations under the Corporations Act as well as trying to stay out of the cross hairs of the ATO, so it’s easy to forget about potential issues closer home,” Mr Plummer said.
“However, as we have seen in recent weeks – a security breach can destroy a business overnight so it is imperative that the appropriate precautions are taken when it comes to information security.
Mr Plummer said hackers have turned their attention to small to medium business because the larger companies now have the money and systems in place to protect themselves.
“Advisers and accountants are prime targets because of the sensitivity of their client data,” he said.
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