RANSOMWARE: A CYBERSECURITY THREAT THAT AFFECTS ALL BUSINESSES

In response to a spike in ransomware attacks on high-profile enterprises like JBS Foods and Colonial Pipeline, the White House recently issued an open letter calling on all companies to act with greater urgency towards the ransomware threat and strengthen their own corporate cyber defense measures.

While these cyber attacks have highlighted the need for improved corporate cybersecurity and critical industry cyber protection, ransomware is not just a “big” company problem. The reality is that these malicious attacks impact every organization, no matter size or industry

Our Cyber+Information Security team has specifically identified a trend where family offices, along with their principals and advisors, are becoming more vulnerable to ransomware attacks because they are seen as “soft targets.” We have found that many businesses that fuel family wealth, or whose mission is to protect the family interests, are not prepared for this type of security risk.

Jensen Hughes subscribes to White House recommendations that all businesses, including family offices, protect their interests, reputation, and performance from ransomware attacks by implementing appropriate cybersecurity measures. The first step is to assess risk exposure and then move quickly to prioritize actions that will close any security gaps. This will provide assurance and confidence that all cybersecurity concerns are mitigated to the furthest extent possible.

Cyber and information security professionals are essential to ensuring family offices and businesses are fully protected from all cyber threats, including ransomware. These experts help organizations insulate themselves against data theft, financial loss, and reputational damage through the identification of potential cyber risks and implementation of strategic long-term solutions that will improve overall information security.

Click here to learn more about our cybersecurity services and how our experts can help family offices and other businesses protect themselves from cyber attacks.