Poor technological infrastructure and inadequate cyber and data security are hampering the productivity of employees working from home – and represent a cyber risk to Pension Schemes. Find out how we’re dealing with this here. While fraud and cyber risks have always been apparent, given the changes to how suppliers have operated and the current state of the economy, there has been an increase in the attractiveness of pension scheme data to fraudsters.
At Assure UK we have partnered with Lockdown Cyber Security and publish live events such as Webinars on how Pension Schemes can manage their Cyber Fraud Risk more effectively. It is through this partnership that we are able to offer you a free brochure that will help you demystify Cyber Security and enhance your Cyber Resilience.
The integrity of the people working for administrators is an important factor in preventing fraud. In recent years firms have seen examples of fraudsters using false information to change member details, therefore it is fundamental that trustees have assurance that the processes in place are sufficient. According to Pensions Age, the percentage of schemes that have not had an independent review have increased from 47% to 50% overall and from 64% to 68% in Small Schemes.
As there is no solution to Cybercrime, it is essential to get to grips and understand what Cyber Risk is, how attacks happen, what the red flags are and how to become more Cyber resilient. Cyber Security is not an annual tick box exercise, it’s a way of life. You need to continually monitor and enhance your Cyber Security posture. It’s essential to build a strong security aware culture and take a holistic approach to all round scheme protection to reduce the impact of an attack.
We are here to help in any way possible.