Avoiding a data breach in family offices

Some data security disasters make news because they involve household names -- Target Stores, Sony Online Entertainment and Home Depot, among others.  While other data breaches make headlines because they reveal embarrassing information -- e.g., Ashley Madison.  

But that does not mean that family run offices, which may be less well-known and/or possess “less interesting” data than hacking victims in the news, should get complacent.  If hackers find their way into your network and steal or corrupt data, personal information may be exposed, and confidential business information or trade secrets may be made public. Repairing the damage — and your business’s reputation — can be time-consuming and costly.  As a result, family run offices need to be proactive in protecting their data and know what to do if a breach occurs.

There is currently not a comprehensive federal data-security law that applies to all industries, but many states have enacted statues requiring all businesses that own or license personal information of the state’s residents to adhere to certain standards. This white paper discusses those standards and also provides advice on what you can do now to secure your family office data.