Paradigm Consulting has announced a new strategic partnership with Mitigo Cybersecurity to provide its member firms with protection against cybercrime and business disruption.

The financial support consultancy suggested the partnership recognises the increased risks posed to the financial services industry from cybercrime, as Mitigo offers proportionate, affordable, ongoing security to safeguard firms against cybercrime.

Paradigm Consulting firms will also get access to its dedicated client helpdesk and a sandbox to which suspicious content may be sent.

Paradigm Consulting provides compliance and regulatory support to 394 firms, giving these firms access to a panel of strategic partners whose propositions are all designed to support the IFA market.

“Cybercrime is now a serious risk in terms of client and proprietary confidentiality, operational resilience, loss of money, trust and reputation, and it should be governed like any other business risk,” Paradigm Consulting managing director, Bob Hunt, commented.

“The FCA requires firms adopt a security culture from the board down. The Mitigo solution meets a real member need to manage this risk and satisfy regulatory compliance.”

Mitigo CEO, Lindsay Hill, added: “There are two big dangers for wealth managers, financial advisers and mortgage advisers. The first is failing to recognise they are a prime target for organised cybercrime.

“The second is assuming their general IT support are qualified to look after their cybersecurity and cyber risk management when they are not, and nor should they be. It is a different discipline. We are pleased to be working with the UK’s premier support services provider to keep their members safe.”

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