The Wealth Management Association (WMA), a UK-based trade association of the investment industry, has joined forces with the National Crime Agency (NCA) to support wealth managers address the issue of cyber crime.
The two organizations will create documents to educate wealth management firms on the area of cyber crime, that is estimated to cost the world economy $560bn per year, and help them protect their clients.
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WMA chief executive Liz Field said: "The WMA will be working closely with (Donald) Toon, the Economic Crime Command and the NCA as a whole to ensure that these relationships are formed quickly and effectively and will endeavor to promote their continuation.
"Business is increasingly global due to the growing reliance on technology and the internet. Companies remain vigilant in their day-to-day operations and have implemented a range of safeguards, such as anti-money laundering initiatives and the protection of valuable client data to safeguard clients."
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