October is Cybersecurity Awareness Month

October marks Cybersecurity Awareness Month, a global initiative to promote safer online practices and help individuals and organisations to protect themselves from online threats.

In the financial sector where trust, data integrity and regulatory compliance are critical, cyber security is not just important – it’s essential.

In today’s digital world, cybercrime is more sophisticated than ever – from phishing scams and fraudulent calls to ransomware attacks.

Big organisations, in particular financial institutions, are susceptible to cyber criminals due to the sensitive nature of client data and transaction records. This year has already seen large businesses and industry sectors affected by cyberattacks and the huge reputational impact they can have.

At Aberdeen Adviser we take cyber security seriously. We’re committed to maintaining robust security measures that protect both our business and our clients from online threats.

Of course, cybercrime doesn’t just target businesses, anyone, including your clients, can fall victim to a scam.

While the risks are real, there are steps your firm and your clients can take – set out below - to stay protected.

Our five top tips to stay safe online

1. Use strong, unique passwords
   Whether it’s your devices or online accounts, strong passwords are your first line of defence against unauthorised access. Use complex, unique passwords for each account and never reuse them.
2. Be vigilant against phishing scams
   Phishing attacks are becoming more sophisticated, including those targeting financial information. Be cautious of messages that urge immediate action or ask for sensitive details. Cybercriminals use a variety of tactics such as harmful links and attachments in emails and texts, fraudulent phone calls and even deceptive QR codes to trick people into giving up their data.
3. Always verify before sharing information
   You should never be asked to share your account passwords. If you receive a request for sensitive or personal information, verify the legitimacy of the sender through trusted, independent channels before taking any action.
4. Keep devices and apps updated
   Regular updates fix security vulnerabilities. Enable automatic updates on your devices and apps whenever possible. Staying current ensures you are protected from latest security risks.
5. Know the best places to get advice to stay safe
   Staying safe online means knowing where you can turn to for reliable guidance. Use official sources like government cyber security websites and well-known security providers, such as the examples below, for up-to-date advice.
• National Cyber Security Centre UK
• Action Fraud UK

Cybersecurity is everyone’s responsibility

As a business, we’re committed to maintaining strong security practices that protect our organisation and ensure resilience against online threats. We encourage you and your clients to take similar, proactive steps as a safeguard against financial crime.

This Cybersecurity Awareness Month, let’s all take action to strengthen our digital defences.

Take a look at our platform due diligence guides for Wrap and for Elevate which outline the security controls and practices we have in place to help combat financial crime.

The value of investments can go down as well as up and your clients could get back less than they paid in.

The views expressed in this blog should not be regarded as financial advice