Cyber attacks are on the rise, and they’re a family office’s worst nightmare. In an industry where relationships mean everything, a cybersecurity breach could cost your firm upwards of tens of thousands of dollars—and the trust of your most valuable clients.
Unfortunately, family offices are a prime target for hackers and cyber criminals. To protect your firm in this dangerous cyber landscape, here are five effective measures you can take.
Ramp up information security training and policies for your staff
Most family offices employ 10 people or fewer. This means that a huge amount of sensitive information, which would normally be compartmentalized in a larger corporation, is in the hands of your entire staff. If a breach occurs at any level in your firm, the repercussions could be disastrous. To combat this, it’s crucial to make cybersecurity education a key part of staff training and business operations meeting.
Avoid using personal devices for corporate communications
The line between personal and corporate devices, especially in small office settings, is growing increasingly blurred. But using personal devices to store or access sensitive client information—especially over a server that is not secure—could provide cyber criminals with an opportunity to target your family office. Wherever possible, ensure that your staff keep separate personal and corporate devices, and that company information is only accessed on the latter with approved security tools over a secure connection.
Invest in cyber insurance
Cyber insurance is becoming increasingly common as cyber threats grow more and more prominent. Investing in a risk management tool such as cyber insurance not only helps your family office manage risk effectively, but also reassures your clients that you’re dedicated to taking the necessary steps to protect their wealth.
Work with other firms
Although family offices are discreet by nature, sharing intelligence comes with many benefits. Firms have a much better chance of defending themselves against cyber threats when they coordinate security measures and exchange valuable security intelligence.
Bring in the experts
Cyber technology and security firms can supply your family office with effective cybersecurity solutions and cutting-edge information to proactively combat cyber threats. Working with cyber security specialists like the team at eMazzanti is a cost-effective alternative to hiring an in-house CRO or CISO, helping you protect your clients—and yourself.
The bottom line: protect and secure today to prevent the attacks of tomorrow
In the face of an ever-changing cyber landscape, it can feel impossible to keep your family office safe. eMazzanti can take care of this daunting challenge for you by providing expert cyber security and privacy services, including 24/7 remote monitoring, advanced threat analytics, and business continuity and threat recovery. To find out more, contact us today.
Tags: Cyber Security