It's All Geek to Me: DOL Fights Cybercrime

Morse talks about the US Department of Labor's (DOL) how-to cyber security advice: one for employers/sponsors, another for service providers and a third for participants. The DOL has done an admirable job with a task outside its comfort zone. The recommended actions are both sensible and alread...

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Bibliographic Details
Published in:Benefits law journal 2021-07, Vol.34 (2), p.3-5
Main Author: Morse, David E
Format: Article
Language:English
Subjects:
Audits
Cybercrime
Cybersecurity
Deferred compensation
Due diligence
Employers
Fiduciaries
Online Access:Get full text
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Summary:Morse talks about the US Department of Labor's (DOL) how-to cyber security advice: one for employers/sponsors, another for service providers and a third for participants. The DOL has done an admirable job with a task outside its comfort zone. The recommended actions are both sensible and already widely adopted. Importantly, the DOL guidance will make it easier for employers to negotiate robust cyber protections in vendor contracts and press participants to do their share. This will be particularly helpful for employers too small for an in-house IT department and too financially stretched to hire an outside technology consultant. The DOL also appears to put most of the onus where it belongs, on service providers with the expertise and resources to deter cybercrime.
ISSN:0897-7992