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cybercrime

Protecting your family business against fraud

November 2, 2021

Fraud thrives in times of crisis and the Covid-19 pandemic has proven to be no exception. Factors such as supply chain issues, workforce constraints and the withdrawal of the furlough scheme in the United Kingdom in September 2021 is putting further pressure on employees and management alike.

Common Reporting Standard and Internet of Things may increase cyber risk to family offices

October 8, 2018

With cybersecurity breaches at well-known companies hitting the headlines, it is easy to believe that family offices which maintain a low profile would not be a prime target for digital fraud.

With cybersecurity breaches at well-known companies hitting the headlines, it is easy to believe that family offices which maintain a low profile would not be a prime target for digital fraud.

However, this ignores the attractiveness of the information that is stored by a family office, their advisers and their financial institutions—information and data which is potentially useful to criminals who wish to steal from, harm or damage the reputation of a wealthy family.

'Machine on machine war' the future of cybercrime

May 3, 2018

In five years’ time, the battle to keep data secure against cyber-attacks will descend into a “machine on machine war” with the advancement of artificial intelligence, a former head of MI5 says.

In five years’ time, the battle to keep data secure against cyber-attacks will descend into a “machine on machine war” with the advancement of artificial intelligence, a former head of MI5 says.

Lord Jonathan Evans, speaking at Jersey Finance’s “An Open World” Annual Private Wealth Conference, told an audience of more than 600 family offices, wealth holders and advisers that attacks would become more sophisticated as hackers made use of semi-autonomous technology.

Cyber-Attack: The Incident Response Team

April 17, 2018

Blind panic may be the first response to a cyber-attack, but family businesses and family offices need not fear if they follow training and a steady response. Three cyber experts at Schillings tell Daniel Bardsley how to react

Few things are worse for an organisation than falling victim to a cyber-attack, not least because the consequences can go well beyond the direct effects of having data leaked or made inaccessible.

The reputational damage can prove fatal.

How can I protect my family office from cyber-attacks?

November 8, 2017

Cybersecurity regularly grabs headlines around the world and family offices containing sensitive data are not immune to the threat from international hackers.

Cybersecurity regularly grabs headlines around the world and family offices containing sensitive data are not immune to the threat from international hackers.

Bobby Stover, Americas family office leader at EY, outlines what families can do to protect themselves, including building out a 10-point family office cyber protection plan.

How would you describe the state of family offices and their cyber security in general at the moment?

FB Roundup: Appleby, Ferrero, and Kraft Heinz

October 27, 2017

Hackers crack offshore law firm; Ferrero eats up Ferrara; and Kraft in peanut butter battle down under.

Hackers crack offshore law firm

Ultra-high net worth clients of a Bermuda-based law firm may be at risk of having their financial details exposed, as journalists investigate information stolen in a cyber-attack.