Family Office Threats: Ransomware

This is a special episode in the tax track for the Larry Kraus Institute’s family office community. It is a recording of a virtual program presented on June 26th titled: Ransomware: What Family Offices Need To Know, If And When Data Is Compromised.  The moderator was Tony Gebely, CEO of Annapurna Cybersecurity Advisors. The panelists were David Sun who leads the cybersecurity incident response and computer forensic services for CohnReznick and Annmarie Giblin, Partner in the Global Cybersecurity and Privacy Group at Norton Rose Fulbright.  The video from this program can now be viewed on www.myfotech.net  The FOTechHub podcast is a collaboration with Phil Strassler's Larry Kraus Family Office Tax & Tech-NEW-Logy institute. If you like this discussion please follow us or join our network through fotechhub.com to be invited to future virtual and in-person events. 00:05 - Introductions  06:05 - Evolution of ransomware attacks, from encrypting systems to data exfiltration  13:11  - Legal implications and requirements, notifying authorities and regulatory scrutiny 27:39 - 27:39 - Cybersecurity measures and proactive approach: EDR (endpoint detection response), MFA (multi-factor authentication), testing, analysis, monitoring and training 52:28 - Cyber insurance and ransomware coverage, different types of insurance, limitations