Security template to help IFAs tackle fraud

Following an increase in ID theft related fraud cases in recent months, an independent financial adviser (IFAs) support services provider has launched a platform designed to help IFAs tackle the menace.

threesixty has designed a template security policy, whose main aim is to help IFAs establish measures to tackle crooks by providing a basic overview of what security measures they need to take to protect both electronic data and paper records.

According to Phil Young, partner at threesixty, every IFA needs to have appropriate measures in place, and the policy, which is aimed specifically at small to medium-sized IFAs, would be handy.

"Many IFAs do have some security to a greater or lesser extent, but this template policy provides them with a checklist of additional items they might consider, and, importantly, a means of documenting their policy," he said.

So prevalent is the problem that the Financial Services Authority has put security higher on their priority list.