Asset managers “poorly prepared for cyber attack”

Regulators in Asia are starting to take action in the face of the growing threat from cyber-space, the latest example of which was the WannaCry global ransomware attack, which began on 12 May and hit organisations across Asia, including oil major Petrochina and several Chinese universities. Yet asset management firms – and the institutional investors in their funds – need to buck their ideas up on this front, argue consultants. Steven Craven of the cyber, data and risk assurance…