How Computer Hackers Could Destroy a Hedge Fund

Studies find only half of all large hedge funds have effective safeguards against a cyber attack, but the SEC is spreading the word.

2014-11-jan-alexander-cyber-security-rev3-anchorpicfinal.jpg
2014-11-jan-alexander-cyber-security-rev3-body.jpg

The chief financial officer of a multibillion-dollar hedge fund firm logged into his computer early one morning and noticed that the company’s accounts included a large volume of transactions requiring money to be wired to a bank in Cyprus — not something the fund’s portfolio managers normally did.

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.

Related