The role of a broker in cybersecurity

The role of a broker in cybersecurity is crucial for protecting client data. Mortgage brokers face increasing cyber threats and must enhance their defenses to comply with upcoming changes in Australia’s Privacy Act. Broker Alex Veljancevski emphasizes the importance of implementing robust cybersecurity measures to safeguard personal and financial information. Encryption and multi-factor authentication are vital tools for data protection. Educating clients on cyber threats and training staff in cybersecurity best practices are equally important. Compliance with data and privacy laws, such as the Australian Privacy Principles, is essential for protecting client data. The government is expected to tighten regulations, making it imperative for brokers to secure their data. By taking a proactive approach to cybersecurity, brokers not only reduce the risk of data breaches but also build trust with clients, contributing to the integrity and success of the profession.

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