Cybersecurity as Capital

In today’s Tech Pulse, gain insight into how:

• Family offices, managing billions in assets, can combat rising cyber threats, like deepfakes and digital asset risks, to protect wealth and legacy.
• Forward-thinking boards are leveraging cybersecurity as a business enabler, using it to drive revenue, trust, and growth as a competitive advantage.
• SMBs can seal critical cybersecurity gaps with budget-friendly solutions, including multilayered defenses and partnerships with trusted experts.

Each of these articles is penned by members of Forbes Technology Council, key luminaries shaping the future of technology leadership.

Grab your coffee, and let's dive in!

Guardians of Wealth: Fortifying Family Offices Against Cyber Threats

Jason Lau, CISO - Chief Information Security Officer Crypto.com

Family offices are booming, particularly in Asia, managing from $100 million to over $1 billion in assets. But with growth comes risk, as these private wealth management firms become prime targets for cyberattacks. The stakes? Financial loss, reputation damage, and eroded trust.

Here’s all you need to know:

🌏 Asian Expansion: Family offices in Asia are booming, with many seeing over 10% AUM growth. Hong Kong is a hotspot, poised for a 43% family office surge by 2025.

🔒 Targeted by Cybercriminals: Wealth concentration, personal data, and perceived gaps in cybersecurity make family offices prime targets. Alarmingly, 43% have faced attacks recently.

🕵️ Beware of Deepfakes: With growing use of AI in scams, verification is key. Establish secret passphrases and use multi-channel confirmations for suspicious requests.

💰 Digital Asset Challenges: Secure storage and private key management are crucial. Use institutional custody solutions and implement multifactor authentication to protect digital assets.

🔥 Resilience Over Rhetoric: Prep for breaches with regular training, incident response plans, and cybersecurity advisors to secure assets and the families they support.

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Cybersecurity: Your New Business Growth Ally

Avtar Sehmbi - Global COO, CTO, AI & Digital Transformation Leader, Board Advisor, Driving Fortune 50, FTSE 100 & Global Markets Transformation Through Strategy & Resilient Operating Models The Cigna Group

In the modern business world, cybersecurity isn't just about protection—it's a strategic growth enabler. Once seen as a compliance cost, it's now central to driving revenue, fostering trust, and ensuring resilience.

Here’s why cybersecurity fuels business growth:

🔒 Digital Trust Equals Business Growth: Secure data and transactions enhance customer trust and market adoption.

🚀 Influencing Deals: Strong cybersecurity postures can shape outcomes and facilitate faster onboarding in cloud-native launches.

🏛️ Public Sector Entry: Certifications are essential, influencing bids and integration in both public and private sectors.

Direct Revenue Impact:

• Customer Trust: Builds confidence and supports long-term relationships.
• Operational Resilience: Ensures business continuity and regulatory compliance.
• Protecting IP: Guards against competitive threats.
• Data Monetization: Unlocks new revenue streams.

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Cybersecurity Gaps: 5 Steps SMBs Can’t Afford to Ignore

For small and mid-sized businesses, a single cyberattack can mean devastating financial and operational consequences. Yet, many SMBs struggle to invest in adequate protection, despite 46% reporting an attack, with 20% of those filing for bankruptcy as a result. The good news? Affordable solutions once accessible only to larger enterprises are now within reach.

Here are the highlights of mitigating cyber risks:

🛡️ Adopt a Multilayered Defense: Use firewalls, multifactor authentication (MFA), endpoint security, and zero-trust network access (ZTNA) to protect all angles.

📣 Cultivate a Security Culture: Train staff, publish role-specific cybersecurity policies, and conduct regular audits to reinforce safe habits.

📈 Prioritize Scalability: Ensure cybersecurity tools can grow with your business, from new hires to IoT systems.

🔄 Vet Third Parties: Protect against third-party breaches by ensuring your partners' systems are secure—and that yours meet their standards.

🤝 Partner with Experts: Enlist the help of a certified provider to manage complex cybersecurity needs efficiently.

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Wrapping Up

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