CyberAttack Risks on Defined Contribution Plans: Tips for protecting financial assets and preserving confidence in the system

It is not just about protecting financial assets; it’s about preserving the confidence in a system that In the landscape of modern financial security, defined contribution plans stand as fortresses safeguarding the future of the workforce. The towering $10.2 trillion in assets within these plans is a testament to the collective effort of countless individuals…

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DOL Confirms Cybersecurity Guidance Application: Tips for retirement and health and welfare plan fiduciaries to stay vigilant

On Friday, September 6, 2024, the U.S. Department of Labor (DOL) confirmed that its 2021 cybersecurity guidance extends to all employee benefit plans, including health and welfare plans. This clarification, issued through a Compliance Assistance Release, underscores the importance of robust cybersecurity practices across all sectors of employee benefits, not just retirement plans. The retirement…

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In an Era of Fakes, How to Know When Someone Online Is Real

You’re on Facebook, LinkedIn or X and get a message. Maybe it’s from a stranger in your industry, maybe someone from your hometown claiming to know you from way back when. The person wants to reconnect or get your advice. This could all be wonderful. Or it could be the start of a scam. Unfortunately, security…

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Cybersecurity and AI: The Bad

Artificial intelligence is being pushed to new limits with the release of programs like Chat GPT. AI and cybersecurity have intersected for years. Last month, we talked about how cybersecurity professionals can use these programs to help protect against scams. This month, however, we will focus on the dark side of AI and cybersecurity. Scam…

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Cybersecurity and AI: The Good

The power of AI has been in the news with the release of Chat GPT and similar AI programs. Security researchers tested Chat GPT to see if the program could write malicious code—and it came very close. With every technological advance, there are always added risks. But there can be benefits as well. AI can…

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