According to Matt White, senior manager at KPMG’s Cyber Security practice, regulatory action on cyber-crime is inevitable.

“I believe it is a dead certainty that regulators everywhere are taking note of the issues around cyber-crime, particularly at asset managers. While the industry has collaborated increasingly on the issue, I think regulators are going to impose rules on reporting cyber-breaches soon,” said White.

However, he does not believe that such action will be done uniformly–rather, the rules will be fragmented.

At the SALT Conference in Las Vegas, John Carlin, assistant attorney general for national security, stated “managers need to pay increasing attention to cyber-threats and share more information with governments if hackers attempt or successfully cause disruption.”

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