Crain Currency: Uncovering cybersecurity challenges faced by family offices
Cybercriminals are becoming more sophisticated in their tactics, and family offices are emerging as prime targets. Yet many offices aren’t taking some simple steps that could help plug security holes, cybersecurity experts say.
Some 26% of family offices have been targets of cyberattacks, with almost two-thirds of those coming in the past 12 months, according to a recent survey from Boston Private. Phishing and ransomware attacks are among the top threats, and many of those are aimed at the homes of family members or employees, experts said.
Family offices are “low-hanging fruit” for attackers, said Chris Pierson, founder and CEO of BlackCloak, a firm that provides digital executive-protection services.
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