e-Monitor: Online Security
Cybersecurity represents a crucial responsibility for all brokerage firms, as they must safeguard clients’ wealth and personal data. This is especially important as cyber hacking schemes grow only more sophisticated; according to the FBI’s 2024 Internet Crime Report, the most recent year for which FBI statistics are available, cybercrime accounted for over $13 billion in losses. Capabilities vary significantly across the brokerage coverage set, with some firms providing outstanding offerings that empower clients to secure their accounts against numerous cyber threats, while others provide only basic resources and features. Leading firms go beyond standard two-factor login authorization to offer advanced login security, also providing dedicated secure site security hubs that house resources to empower and educate clients regarding the customization measures that best meet their security needs.
In this report, we analyze leading and lagging offerings to develop a detailed review of the current state of the industry and steps firms can take to enhance how they digitally protect their clients
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