{"id":222598,"date":"2026-05-29T15:33:00","date_gmt":"2026-05-29T19:33:00","guid":{"rendered":"https:\/\/testing.news-you-need.com\/index.php\/2026\/05\/29\/hacker-ethics-and-cybersecurity-investment-executive\/"},"modified":"2026-05-29T15:35:19","modified_gmt":"2026-05-29T19:35:19","slug":"hacker-ethics-and-cybersecurity-investment-executive","status":"publish","type":"post","link":"https:\/\/testing.news-you-need.com\/index.php\/2026\/05\/29\/hacker-ethics-and-cybersecurity-investment-executive\/","title":{"rendered":"Hacker ethics and cybersecurity – Investment Executive"},"content":{"rendered":"

Hacker ethics and cybersecurity – Investment Executive<\/a><\/p>\n

https:\/\/www.investmentexecutive.com\/perspective\/hacker-ethics-and-cybersecurity\/<\/a><\/p>\n

Publish Date: 2026-05-29 15:33:00<\/a><\/p>\n

Source Domain: www.investmentexecutive.com<\/a><\/p>\n

Author: <\/a><\/p>\n

Using an unordered list, summarize the following article with between 4 and 8 key points. <\/p>\n

I pulled an old book off the shelf this week. The Hacker Ethic and the Spirit of the Information Age by Pekka Himanen is a kind of sociology of work in the digital age. It had been collecting dust for 25 years \u2014 more a reflection on me than Himanen.<\/p>\n

Himanen\u2019s optimism reflected the period, with chapter titles like \u201cThe Hacker Work Ethic\u201d and \u201cFrom Netiquette to a Nethic.\u201d <\/p>\n

It was another book that sent me his way. This Is How They Tell Me the World Ends, by New York Times cybersecurity reporter Nicole Perlroth, offers a more contemporary, less rose-coloured view. Her reporting on hackers selling exploits to spy agencies and terrorist groups is deeply unnerving.<\/p>\n

In April, I sat down with Kelly MacDonald and Matt Saunders to talk about cyber risk and the Canadian financial services industry for the Canadian Advisor.cast. MacDonald is national innovation and growth strategy leader at BFL Canada, an insurance and risk management firm. Saunders is a cybersecurity lawyer, breach coach, AI risk manager and geopolitical advisor.<\/p>\n

The two had just wrapped a panel discussion that left attendees at the Federation of Independent Dealers conference frantically Googling Mythos, the AI model announced by Anthropic on April 7. It has multiple uses, among them an advanced ability to find vulnerabilities, turn them into exploits and automate penetration testing and bug discovery. It\u2019s got cybersecurity experts spooked.<\/p>\n

\u201cThe number of [potential] zero-day exploits that would be identified in any given year would be 100 or so,\u201d Saunders said, referring to a cyberattack that takes advantage of a previously unknown or unpatched software vulnerability before developers have time to fix it. \u201cMythos is making that number and more in a matter of weeks.\u201d<\/p>\n

Anthropic is limiting the Mythos roll-out to companies like Amazon Web Services, Apple, Google and Microsoft, in hopes that it can keep the model out of the hands of bad actors. Fingers crossed. <\/p>\n

Another company on the recipient list is JPMorganChase, the United States\u2019 largest bank and one of the world\u2019s most frequently targeted institutions.<\/p>\n

Canada\u2019s financial services industry is not immune, even as it invests millions in the development of AI strategies. <\/p>\n

\u201cThere is a massive gap between adoption and real understanding of the risks,\u201d MacDonald said. \u201cAlmost everyone I talk to, when I ask how they are thinking about the risk \u2026 I get a lot of blank stares.\u201d<\/p>\n

Saunders sees wealth management firms rushing to implement AI tools while regulators and governments lag behind. \u201cHopefully we\u2019ll get some federal guidance from an AI law perspective,\u201d he said. <\/p>\n

How will AI tools use client data? How long will they retain data? What policies do third-party vendors have in place? Saunders believes that as clients come to understand this technology better, they will demand transparency on all of this.<\/p>\n

Black Swan<\/p>\n

The reason AI tools make organizations more vulnerable to cyber criminals is that they extend what experts call the attack surface. More software, more integrations, increased data flows \u2014 they all create more ways for attackers to break in. <\/p>\n

AI has already begun to have a significant, positive impact on the wealth management industry. But its risks need to be better understood. Security systems have to be upgraded along the way and the tools require governance.<\/p>\n

\u201cThat\u2019s the whole thing about AI. It\u2019ll take a good thing and do it at speed and scale. It\u2019ll take a bad thing and do it at speed and scale,\u201d MacDonald said.<\/p>\n

\u201cThat\u2019s the Black Swan I talk about. Everybody makes a certain decision en masse because they\u2019ve been duped into something. AI Kelly told them to do something and it was really a cyber criminal.\u201d<\/p>\n

Both Saunders and MacDonald expressed genuine fear about the direction cyber risk has taken, an idea you\u2019ll probably come to agree with if you pick up Perlroth\u2019s excellent book.<\/p>\n

I asked them both if they are optimistic about the future of AI, given all we\u2019d discussed from a risk perspective.<\/p>\n

\u201cOf late, I\u2019m more pessimistic,\u201d Saunders said. \u201cOne, the technology and the speed with which it\u2019s advancing is too fast. Two, the slowness with which the regulatory landscape is trying to keep up. That\u2019s disconcerting.\u201d<\/p>\n

MacDonald has a similar view. \u201cThere was a time, maybe six, nine months ago, when I was a lot more optimistic,\u201d she said. \u201cIt is moving too fast. It\u2019s a runaway train. The emergency brake is not working.\u201d<\/p>\n

\t\t\tKevin Press\t\t\t<\/p>\n

\t\t\t\t\t\t\tKevin Press is editorial director of Investment Executive. Reach him at kevin@newcom.ca.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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