•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

Komfie Manalo, Opalesque Asia:

Hedge funds are prime target for cyber insurgency, said Paul Didyk, Chief Technology Officer at MUFG Fund Services, a global asset servicing company..

Didyk made the comment in response to recent guidelines published by the Alternative Investment Management Association (AIMA) on cyber security for hedge fund firms and other asset managers. AIMA had warned that hedge fund managers cannot fly under the radar of cyber criminals.

In an emailed commentary, Didyk said, "It is vital for managers to recognise and address that the hedge fund business is a prime target for cyber threats because of its reputation as a high value arena. Bigger firms may have adequate protection in place, but smaller companies who don’t have the sufficient security infrastructure are at a real risk."

Didyk explained that cyber crime is evolving and proactivity is key to tackling its greatest threats. "A commitment of time and resources is paramount in getting to grips with new methods and techniques used by criminals. Small and medium sized hedge funds are essential for the sustainability of the industry, but a barrier to entry for smaller shops is the affordability of these robust security frameworks."

He went on to say, "Fund administrators have a responsibility ......................

To view our full article Click here