Asia fund firms lagging on cyber-security

Following news this month that fund manager Fidelity had recently been hacked in the US alongside 13 other firms, consultants have highlighted the vulnerabilities financial institutions face in Asia. The question is when, not if, a similar cyber-attack will happen in Asia, as the region lags both Europe and the US in terms of its readiness to combat cyber-crime, said Ernest Hilbert, Emea head of cyber investigations at risk consultant Kroll. Asia is some seven to 10 years behind t…