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Initially, banks and insurance agencies had incurred the bulk of cybersecurity attacks (KPMG). This was due to the fact that banks and insurance agencies had maintained more ‘public-facing’ infrastructure, e.g. ATMs, customer-facing applications and other entry-points for cyberattacks.
The wealth management industry is under pressure from a variety of sources. From demands for lower fees to relatively lower returns on equity and bond markets, margins are tight. With macro-economic conditions...