Protecting the Family and the Office: BlackCloak, Abacus and Copia Wealth Studios

FOTechHub in collaboration with the Larry Kraus Family Office Tech-NEW-logy Institute: Tania Neild of InfoGrate interviews: BlackCloak- a holistic cybersecurity platform, safeguarding executives’ personal and financial data, and protecting corporate assets without invading personal lives. Abacus - a global IT and Cybersecurity provider, offering specialized services for the financial sector through its abacusFlex platform, ensuring secure and compliant scalability. Copia - a real-time portfolio management platform for diverse asset classes, enhancing “Assets Under Intelligence™” with a team experienced in creating top applications, building fast-growing companies, and developing complex enterprise software. The discussion will introduce these companies and their services, and focus on the impact and future implications of the 7/19 CrowdStrike incident on cybersecurity practices for family offices. Show Summary 00:05 - Introductions  06:34 - Chris Pierson and BlackCloak overview  09:13 - Michael Sikorsky and Copia overview  11:41 - Paul Ponzeka and Abacus overview  14:00 - Explanation of EDR (Endpoint Detection and Response) tools and their role in cybersecurity. Comparison with traditional antivirus software 19:11 - What happened with the CrowdStrike incident? Strategies for protecting client endpoints; diversifying security tools to mitigate single points of failure  26:20 - Implications of the CrowdStrike incident for family offices; Importance of multi-layered defense approach, including EDR, MFA, and email security; prioritizing prevention, backup, business continuity and rapid recovery plans 33:00 - Sentinel One vs CrowdStrike 39:51 - Recommendations for how family offices should handle communication during incidents 47:46 - Balancing the urgency of releasing security patches with the risk of issues like the CrowdStrike incident  50:14 - Some of the most common attacks targeting wealthy individuals and family offices (scams, fraud, malware infections, account compromises, etc)