Cybersecurity Best Practices for Private Offices and Family Offices

With the recent increase in cyber attacks targeting private offices, cybersecurity has become an important consideration for any private or family office.

Here are a few tips and tricks to make sure your office remains safe in cyberspace:

1. Ensure that you are running updated software.
2. Ensure technology storage environments have the latest upgrades and top security systems in place.
3. Backup your data and information to ensure business continuity.
4. Avoid sharing any private information, including passwords online. Never pass your information or clients’ information over the phone without verifying the caller on the other end.
5. Double-check the spelling of the email domain name in any email address or website URL before interacting with it.
6. Be aware of spelling mistakes, grammatical errors, or unusual formatting in suspicious emails. These are usually indicators that the email is fraudulent or trying to trick you into letting hackers into your systems.
7. Do not click on any links or open any files in emails which look suspicious or unusual.
8. Exercise extreme caution when faced with any unexpected, unusual or very urgent payment requests, to any company even if the company is one you actively work with.
9. In case of doubt, verify any unusual email requests with the sender through a call or other form of message from contact details on record.
10. Never verify information or communication received with any number or email address provided in a suspicious email. Always use contact details you have on file.
11. When making large payments online to external companies, follow this up with a call or a message to ensure that the recipient has really received your payment.
12. Invest in training your employees to recognise red flags and indicators in communications received and to report suspicious looking emails.
13. Act fast when becoming aware of a possible cybersecurity breach. Immediate action could save your office from harsher consequences and give you a better chance at recovering any stolen data or assets.

With a few simple precautions, private and family offices can remain resilient in the face cyberattacks. In this day and age, it is not enough to react to a cyber incident. Preventive cybersecurity measures and practices must become part of any office’s culture to ensure the survival of any business.

‍