Social Engineering and Data Breaches in the Finance Industry: A Guide to Protecting Financial Data

In this program, Atea Martin, Vice President of Berkshire Hathaway Specialty Insurance, and Barry Temkin of Mound Cotton Wollan & Greengrass will provide an overview of the many ways social engineers attempt to access data in the financial services sector. The presenters will provide examples of recent data breaches in the industry, and will discuss relevant federal regulations implemented to protect financial data.

Additionally, the program will address related regulatory enforcement, and ways in which law firms and financial services companies have responded to an increase in social engineering. The panelists will discuss the New York cybersecurity regulations of the New York Department of Financial Services. 

Finally, the program will also include a discussion of best practices for protecting financial data, such as “must-have” language in written policies and important procedural safeguards for common scenarios in banking industry, such as new account requests, fund transfers, or changes to a customer’s bank account information.

Learning Objectives:

1. Become familiar with the concept of social engineering, and how it affects the financial services sector
2. Analyze recent breaches in the financial services industry
3. Identify federal regulations and state laws governing cybersecurity directives
4. Develop best practices for maintaining the security of your client’s financial data