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Komfie Manalo, Opalesque Asia:

According to delegates at the latest Opalesque Cayman Roundtable, large hedge fund managers in the US have started to limit access to company computer systems from mobile devices, in a move to strengthen cybersecurity. The move highlights the level of cyber threats in the financial system, said Jason Allison, a partner in the investment funds group at Walkers.

In his comments on cybersecurity, Allison said, "Some people think that it presents the biggest single risk to the financial system because of the reliance on technology. People have even spoken about code being weaponized so that it can destroy infrastructure. This is a very real risk, and a threat that boards are considering regularly now to ensure they have the right systems in place."

Leanne Golding, a senior vice president at The Harbour Trust Co. Ltd., agreed with Allison. She said that over the past 12 and 18 months, the topic of cyber security is brought up in every board meeting at The Harbour Trust. Golding echoed the statement of Allison that some clients do not realize the importance of shutting down access to social media within their office networks.

She said that there are specific protocols to keep in place that managers have to follow diligently to prevent an outside threat from penetrating a manager’s systems. If they do not, the conseq......................

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