PWC has made available for download its report, Cyber-protection plan for family offices.  It’s report begins as follows:

It is possible to manage cyber risks while taking full advantage of digital technology The internet and connected devices are transforming the world, mostly for the better. But for all the advantages cyberspace brings, there are also growing risks for businesses and families, all of which are relevant for family offices. We’re all vulnerable, but wealthy families are particularly attractive targets in the eyes of cybercriminals.

We recommend creating a strategic plan to address the various types of cyber threats. Review and update your plan as new threats emerge.

  • Maintain an updated inventory of everything internet related.
  • Assert control over internet access points.
  • Write down your cybersecurity policies.
  • Proactively address people risks.
  • Reinforce good cybersecurity practices.
  • Deploy technology tools and assessments to support protection.
  • Be ready for a crisis.

See full report: Cyber-protection plan for family offices: PwC

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.