AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Family Office Technology Hub
Family Office Threats: Ransomware
Jun 30, 2024
David Sun, a cybersecurity expert with 25 years of experience at CohnReznick, and Annmarie Giblin, a partner at Norton Rose Fulbright specializing in cybersecurity law, discuss the alarming evolution of ransomware attacks. They highlight legal requirements for incident reporting and the importance of proactive cybersecurity measures like multi-factor authentication. The conversation also delves into the intricacies of cyber insurance, exploring coverage options and limitations. Ultimately, they emphasize rigorous training and a well-crafted incident response plan for family offices.
57:29
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Ransomware has evolved to not only encrypt data but also exfiltrate sensitive information, highlighting the importance of comprehensive cybersecurity measures for family offices.
- Family offices face unique cybersecurity threats due to a lack of awareness and reliance on IT personnel without specialized cybersecurity expertise, necessitating robust security practices.
Deep dives
Understanding Ransomware and Its Evolution
Ransomware is malicious software that encrypts a victim's files, making data inaccessible until a ransom is paid, often in cryptocurrency. It has evolved due to improved IT defenses, with attackers now exfiltrating sensitive data before encryption, exploiting the risk of leaked information to compel victims to pay. In the family office sector, awareness of ransomware's prevalence is crucial, as no organization is immune to such attacks. This growth in sophistication means that simply restoring backups may no longer suffice; organizations must also guard against data exposure risks.
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode