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Assureweb flies the kitemark for system security

Assureweb says it is the first IFA portal to gain a British standard for security practices and is calling on its competitors to work harder to demonstrate the same level of commitment to improving security.

The move to gain accreditation follows a report from the FSA issued this month on how firms are tackling fraud and financial crime.

The regulator’ report found that some firms did not properly control employee access to rights or user administration in their networks. It identified legacy systems with poor security design as a threat.

The FSA report notes that some firms have responded quickly to problems such as phishing, a technique used by hackers to access company email systems and contact their clients.

Assureweb will be subject to six-monthly surveillance audits to ensure standards are maintained. Assureweb head of transaction Stephen WynneJones says: “Security is not just about firewalls and encryption, it is about having robust internal processes and practices that look to continually minimise risk.”

Ace Financial Management adviser Emily McMorran says: “Some of our clients are concerned about the security of their personal data. We are pleased that we can reassure them that Assureweb has an accreditation and that everything possible has been done to protect this extremely sensitive information.”

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