Financial Services

Financial Services (FinServ) is a targeted sector by various hacking groups and nations' state actors because they have access to significant funds. Regulations require continually implementing controls to reduce cyber risk. The Gramm–Leach–Bliley Act (GLBA) requires financial institutions to protect customer data and disclose all data-sharing practices with customers. Under this U.S law, financial entities must establish security controls to protect customer information from any events threatening data integrity and safety. This includes strict financial information access controls to mitigate the chances of unauthorized access and compromise. The Financial Industry Regulatory Authority (FINRA) is an organization that has established a set of rules for protecting customer data and finances. FINRA also promotes controls for detecting cyber threats and mitigating their impact. FINRA regulates the following financial entities: Broker-dealers, Capital Acquisition Brokers, and Funding portals (such as crowdfunding platforms). FINRA requires all brokers in the United States to be licensed and registered. Stetson can help financial and fintech firms protect assets and mitigate organizational risk.

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