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In the News Press Release

Family Offices Vulnerable to Growing Cyber Threats

Publisher: FundFire
June 12, 2017

Jed Davis was quoted in the article entitled "Family Offices Vulnerable to Growing Cyber Threats," which was published in mid-June by the Financial Times' online magazine FundFire. The article discussed Family Offices as tempting targets for cyber criminals because of the significant assets and sensitive data they manage. "Criminals who are going for the bigger scores are capable of doing online intelligence to try to find these kinds of organizations, including family offices," Jed Davis told FundFire in the interview. Criminals may also target family members as a means of access to the family office, which manages their resources, he said. "Family offices are most at risk for targeting phishing, or spear phishing, and other types of business email compromises," Jed said. In addition, cyber criminals may seek "the ability to infect an organization with malware, and then conduct reconnaissance within the organization and pose as a trusted member of the organization to steal the resources of the organization." Jed also emphasized that "Family offices, because they represent folks of substantial means, are potential targets of attack by hacktivists of all sorts of mindsets," Jed said. "There are people who would look to attack out of spite, not for any financial advantage, to obtain sensitive information and broadcast it to embarrass the family office or the people who they serve."

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