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Beware: RIA privacy breaches aren’t always high-tech

Bellowing that reaches the waiting room is one example of potential confidentiality-breaching behavior

Author Guest Columnist Les Abromovitz June 20, 2012 at 3:48 AM
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Les Abromovitz: Loose lips can lead to information being made available to unintended persons -- which can also lead to insider trading.

RIA Compliance

Peter Giza

Peter Giza

June 22, 2012 — 5:16 AM


Great article. Social engineering (confidence games) and disgruntled employees still make up over 80% of all breaches. With 70% of those being “inside jobs.” The number of unreported major security breaches suffered by healthcare, financial and other entities that use and store priviate client data is staggering.

So the next time someone calls into your firm’s reception desk and starts acting all friendly and asking seemingly innocent questions about your firm’s operations, it may not be so friendly. Do not underestimate the vast knowledge and tools that social engineers have at their disposal and the least of which not being their innate ability to pry information from the unwary.

And oh yes how true – Loose Lips Sink Ships.



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