BillRM
DP Veteran
- Joined
- Aug 26, 2016
- Messages
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- Political Leaning
- Liberal
Oh, it's not chump change to me personally. It's chump change as far as client investment data can go. To a hedge fund, $500k is a rounding error. :mrgreen:
I'd also say that if you have $500k in investments, you probably have it in accounts that have some sort of theft or fraud protection. (E.g. companies like Vanguard and Fidelity offer fraud protection, including monitoring). That's less likely if you're moving $10 million in a single trade.
Never mind the laws. If you had encrypted client data on your laptop, and it was stolen, would you or would you not inform your client?
Interesting question as given the risks to clients would be as near to zero as it is possible to be I see zero benefits or moral issue in not doing so but I guess if I found myself in such a position I would just follow what ever is consider the best practice of the industry I am in.
One thing I would not do is worry that a modern standard peer review cipher could in fact be broken and would not worry about my personal funds.
As I already stated given how must of the world is depended on such ciphers being secure from international banking to the military if there is a weakness we all are in a world of hurt that go far beyond any one investment fund.