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)