LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Netwrix Corporation, the IT auditing company, providing software that maximizes visibility of IT infrastructure changes and data access, today announced that Netwrix Auditor was chosen by globally regulated Forex brokerage FXCM Inc. (NYSE: FXCM) to help improve security of critical business assets and data, and to simplify the process of passing compliance audits.
As a regulated entity, FXCM complies with strict requirements of applicable laws and regulations including SOX and Dodd-Frank, the CFTC, the NFA, FCA and ASIC. The first among its priorities is eliminating the risks of cybercrime and corporate espionage, which are so damaging when it comes to financial services institutions. The challenge of ensuring the best customer service and securing huge amounts of sensitive client data for over 185,000 accounts led Mark Patten, Director of Corporate Engineering of FXCM, to look for a solution that helps to eliminate the risk of insider misuse.
Mr. Patten is now using Netwrix Auditor to keep a close watch on the activity of 900 privileged accounts, as well as to simplify the process of drawing up and submitting reports to compliance auditors. Netwrix Auditor reports allow FXCM to prove that security is properly maintained and that the IT team has complete control over changes across a wide variety of IT systems and services, including SQL servers, file servers, Exchange servers, Active Directory, and Group Policy.
“Controlling access to sensitive data is one of our priorities set by numerous industry standards, for which we must comply,” said Patten. “Netwrix Auditor helps us to ensure that there is no room for unauthorized actions that could potentially compromise sensitive data and damage our customers.”
“Maintaining security of sensitive data in the financial sector has always been a challenge for IT departments. Integrity of personal information and financial records also draws significant attention of the authorities, especially after large-scale security incidents that result in more stringent compliance requirements,” said Michael Fimin, CEO and co-founder of Netwrix. “I believe that complete visibility is the key factor of a proactive approach to IT security and addressing the issue of protection against cyber-attacks.”
To read the complete case study of FXCM’s use of Netwrix Auditor, click here.