All Cybersecurity articles – Page 2
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NewsIndustry calls for clarity on TPR’s enforcement powers
Industry experts, though broadly supportive of the Pensions Regulator’s approach to its new enforcement powers, have nonetheless called for additional clarity in how they will be used, with some concerned that outcomes could be determined in part by “luck”.
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NewsPASA bolsters cyber attack admin checklist amid crime surge
The Pensions Administration Standards Association has published a new cyber crime checklist, advising administrators to keep up to speed with legislation and assess their vulnerabilities to cyber attacks amid a spike in online criminal activity.
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NewsPensions sector warned as business data breaches almost triple
On the go: Pension trustees have been urged to be vigilant after businesses experienced an increase in cyber attacks and data breaches over the past year, as cyber criminals upped their game during the shift towards homeworking.
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NewsNo AE reform, but Queen’s Speech measures spark protests
There was no mention of automatic enrolment reform in the Queen’s Speech, but bills around local boycotts, online safety and a revamped audit and reporting framework will all impact the industry, experts have said.
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NewsAlmost half of schemes lacking cyber security testing
On the go: Almost half of pension schemes (43 per cent) have not tested the strength of their plan’s IT systems, processes and procedures for cyber crime protection, according to new research.
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NewsAltus and ITM move first on next stage of dashboards journey
On the go: Financial services software company Altus and platform technology specialist ITM have been confirmed as the first participants in the Pensions Dashboards Programme’s “Alpha” stage to move forwards to the next development stage.
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NewsAppeals made as foreign exchange class action proceeds on opt-in basis
The Competition Appeal Tribunal has ruled that a class action suit against banks for participating in a foreign exchange spot trading cartel must proceed on an opt-in basis, leading to fears that thousands of pension funds could miss their opportunity to join the suit.
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NewsPLSA calls for ‘major review’ of Fraud Compensation Fund
On the go: The Pensions and Lifetime Savings Association has called for a “major review” of the Fraud Compensation Fund, branding the current arrangement “not fit for purpose”.
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NewsOmbudsman facing 'significant queue of work' from Covid-19
On the go: The Pensions Ombudsman is expecting demand to increase by 10 per cent in light of Covid-19, but is already facing a “significant queue of work” caused by the pandemic, according to its 2021-24 corporate plan.
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NewsUltra pension scheme set for £100m acquisition windfall
On the go: A proposed £2.57bn cash acquisition by Cobham Ultra Acquisitions of Ultra Electronics Holdings will see the defence company’s defined benefit scheme receive an extra £100m in funding.
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NewsPASA unveils counter-fraud guidance
On the go: The Pensions Administration Standards Association has unveiled its latest counter-fraud guidance, taking aim at scammers and looking to provide pension schemes with the tools used to counter an increase in criminal acts following the introduction of pension freedoms.
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NewsTimms urges action on fraudsters posing as Dalriada trustees
Work and Pensions Committee chair Stephen Timms has written to the City of London Police asking why no urgent action has been taken against fraudsters masquerading as representatives of Dalriada.
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PodcastsPodcast: Trustees should focus more on scheme admin in anti-scam fight
Podcast: The Pensions Ombudsman has declared schemes should have their transfer and due diligence procedures updated within a month of new anti-scams guidance. Compliance will require a huge amount of administrative time and resources, and trustees should give scheme administration more focus. LCP partner Francesca Bailey and Pensions Management Institute president Lesley Alexander talk scams, dashboards and corporate activity.
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NewsNew code of practice makes life ‘harder’ for LGPS funds
On the go: The Pensions Regulator’s new combined code of practice risks making life “harder" for Local Government Pension Scheme funds, and more needs to be done to accommodate their specific needs.
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NewsScams, dashboards, superfunds feature in TPR’s three-year plan
The Pensions Regulator has published its latest three-year plan, an agenda encompassing everything from pensions security, tackling scams, dashboards, superfunds, and coping with the changing nature of defined contribution pension provision.
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NewsFinancial bodies call for new online scam rules
On the go: Seventeen groups have joined forces to warn about online scams and lobby the government to include methods to tackle this issue in its upcoming online safety bill.
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OpinionProtecting pensions against pandemic-enhanced cyber criminals
Premier Pensions head of administration Girish Menezes details how the pandemic has made pension fund data vulnerable to cyber attacks, and explains what schemes and administrators can do to better protect their members’ information.
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Opperman warns on pension scams rise in new tax year
On the go: Pensions minister Guy Opperman has warned savers to be vigilant when reviewing their retirement plans to avoid being caught out by pension scammers operating online.
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Third of schemes had data breaches in the past year
On the go: One-third of pension schemes have had their data breached in the past 12 months, according to new research.
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NewsTPR’s new code of practice has ‘major implications’
The Pensions Regulator’s proposed new code of practice has “major implications” for pension schemes, introducing a raft of new duties and requirements around climate change, stewardship, investment and administration, experts have said.
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