Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home News

Family Offices Vulnerable to Cyberattacks

May 24, 2024
Reading Time: 2 mins read
in News
Family Offices Vulnerable to Cyberattacks

Family offices, managing substantial wealth with limited staff and resources, are increasingly vulnerable to cyberattacks, according to a Dentons survey. The survey reveals that 79% of North American family offices believe the likelihood of a cyberattack has surged in recent years, with 25% reporting attacks in 2023, up from 17% in 2020. These offices, often possessing sensitive financial data, have become lucrative targets for hackers due to their substantial assets and relatively small teams.

Edward Marshall, global head of family office and high net worth at Dentons, notes that family offices prioritize efficiency over risk management, lacking adequate technology and preparation for potential cyber threats. While in-house security teams can be costly, outsourcing to third-party vendors introduces additional risks. Despite growing awareness of cybersecurity risks, less than a third of family offices have well-developed cyber risk management processes, with only 29% deeming their staff and cyber-training programs sufficient.

The Dentons survey underscores the urgent need for family offices to bolster their cybersecurity defenses. Recommendations include addressing hardware, software, and application vulnerabilities, utilizing secure platforms for communication, and implementing robust staff training programs. With cyber threats evolving rapidly, family offices must adopt a proactive approach to cybersecurity, expecting the unexpected and prioritizing comprehensive risk assessments to safeguard their assets and sensitive data.

Reference:
  • Family Offices Prime Targets for Cyber Hacks and Ransomware
Tags: Cyber NewsCyber News 2024Cyber threatsCybersecurityFamily officesMay 2024North AmericaRansomware
ADVERTISEMENT

Related Posts

UK Advances Plan to Report Ransomware Attack

UK Advances Plan to Report Ransomware Attack

July 23, 2025
UK Advances Plan to Report Ransomware Attack

Global Ransomware Attacks Drop 43% in Q2

July 23, 2025
UK Advances Plan to Report Ransomware Attack

Clorox Sues Cognizant Over 2023 Cyberattack

July 23, 2025
3.5K Sites Hijacked to Secretly Mine Crypto

Darktrace Buys Mira Security

July 22, 2025
3.5K Sites Hijacked to Secretly Mine Crypto

UK Sanctions APT28 for MS Cloud Attack

July 22, 2025
3.5K Sites Hijacked to Secretly Mine Crypto

The Financial Toll Of Dark Web Travel Sites

July 22, 2025

Latest Alerts

Lumma Stealer Returns with New Tactics

npm Phishing Emails Target Developer Logins

MuddyWater Emerges Amid Iran-Israel Clash

CrushFTP Warns of Exploit in the Wild

7-Zip Flaw Lets Malicious Files Crash PCs

3.5K Sites Hijacked to Secretly Mine Crypto

Subscribe to our newsletter

    Latest Incidents

    Weak Password Triggers Ransomware Old Firm

    US Nuclear Agency Breached in MS Hack

    European Healthcare Network Breached

    CoinDCX Says $44M Stolen from Reserves

    Poland Probes Air Traffic Control Issue

    Dior Alerts Customers After Cyberattack Hit

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial