FOTechHub in collaboration with the Larry Kraus Family Office Tech-NEW-logy Institute:
Tania Neild of InfoGrate interviews:
BlackCloak- a holistic cybersecurity platform, safeguarding executives’ personal and financial data, and protecting corporate assets without invading personal lives.
Abacus - a global IT and Cybersecurity provider, offering specialized services for the financial sector through its abacusFlex platform, ensuring secure and compliant scalability.
Copia - a real-time portfolio management platform for diverse asset classes, enhancing “Assets Under Intelligence™” with a team experienced in creating top applications, building fast-growing companies, and developing complex enterprise software.
The discussion will introduce these companies and their services, and focus on the impact and future implications of the 7/19 CrowdStrike incident on cybersecurity practices for family offices.
Show Summary
00:05 - Introductions
06:34 - Chris Pierson and BlackCloak overview
09:13 - Michael Sikorsky and Copia overview
11:41 - Paul Ponzeka and Abacus overview
14:00 - Explanation of EDR (Endpoint Detection and Response) tools and their role in cybersecurity. Comparison with traditional antivirus software
19:11 - What happened with the CrowdStrike incident? Strategies for protecting client endpoints; diversifying security tools to mitigate single points of failure
26:20 - Implications of the CrowdStrike incident for family offices; Importance of multi-layered defense approach, including EDR, MFA, and email security; prioritizing prevention, backup, business continuity and rapid recovery plans
33:00 - Sentinel One vs CrowdStrike
39:51 - Recommendations for how family offices should handle communication during incidents
47:46 - Balancing the urgency of releasing security patches with the risk of issues like the CrowdStrike incident
50:14 - Some of the most common attacks targeting wealthy individuals and family offices (scams, fraud, malware infections, account compromises, etc)
