In conversation with Gareth Cocks, CEO of Mirador
Solutions, our UK Director, Robert Moore, discusses cyberattacks,
and the risks to family offices.
Are cyberattacks a real concern for family offices?
Absolutely, and we can expect to see the threat profile increase
considerably over the course of the next few years.
Cyber terrorists, or bad actors, are becoming more sophisticated
in their efforts and will actively seek to expose vulnerabilities
in a target's infrastructure, stealing data, disrupting
operations, or steering proceeds away from their intended
destination. The attacker's aim is financial gain!
The concern for family offices is that with the increasing
cybersecurity budgets of large investment managers, wealth managers
and other financial services institutions, bad actors see family
offices as a potential target on the perception that their systems
and controls may be inferior to larger financial services
businesses.
