News | 05.15.20
FINRA: Fraud Continues to Be Major Challenge During Pandemic
Bill Wollman, executive vice president at FINRA and head of its office of Financial and Operational Risk Policy, warns that fraud continues to be a serious issue facing broker-dealers amid the COVID-19 pandemic. Wollman adds that the biggest problem are phishing attacks. He says firms should begin to consider issues like weak passwords and maintaining updates on security software. Financial companies should also be wary of emails containing domain names that are slightly off or contain misspelled words. Wollman says broker-dealers should contact FINRA, the SEC, or the FBI if they have suspicions about potential cases of fraud or scams.
Read the full article on Think Advisor