In a recent article, Pensions & Investments discussed how recordkeepers share best practices and other prevention efforts with their peers to prevent cyberattacks. The publication turned to privacy, cybersecurity & data strategy partner Ken Dort for insight on his experience with recordkeepers.
Dort said he understands why many of his recordkeeping clients don’t initially cite cybersecurity in their efforts to attract sponsors. “They are afraid of the next question: Did you have a breach or an incident?”
“By the time someone is talking to me, it’s higher on their list – or they wouldn’t be talking to me,” explained Dort, referring to the importance of discussing cybersecurity services when recordkeeper clients are seeking to complete a deal with a sponsor.
Finally, Dort noted that there are two types of clients: Ones that have had a breach and ones that will have a breach.
The full article is available for Pensions & Investments subscribers.