Top 5 Cyber Security Risks for Private Equity Firms

There is always a fear of losing important data, not necessarily due to mishap but due to cyber-crimes. No doubt internet has given access to many new avenues and made life easier, but at the very same time, the crimes on the net are on a rise. More so over, top private equity firms are under immense pressure and are targeted for having sensitive wealth related data of influential clients.

With hackers and cyber criminals working their way up to corrupt the network of a company to get hold of important data. It is imperative for organizations to build a system which prevents them from such threats. But before starting to prepare for the cyber-attack it is important to identify where all this is coming from and make you base knowledge stronger.

Viruses, spyware and malware-
Viruses, Spyware, and malware are the most common type of threats which proves to be fatal for any company. And Ransomware are the latest addition to this list, which makes your system paralyzed by restricting your access and capturing passwords and financial details. This ransomware blackmails you to pay a certain hefty amount in order to restore the access.

Impersonation-
Well, this isn’t an uncommon affair, people around the world have been fooled and been a victim of online theft. The best way to escape the wrath of this cyber-crime is to ensure all your messages are encrypted and aren’t stored for long time, if there isn’t any purpose to it.

DDoS Attack-
The Distributed Denial of Service, occurs when several systems join the bandwidth or network, slowing down the server. This result in traffic in server which slows down the systems and can cause loss of data, important documents, which directly affects the revenue and the reputation of a top private equity firm.

Unauthorized Access-
The percent of companies and individual who have suffered from this sort of cyber risk is about 13% which is quite a big number. This happens majorly when someone keeps their passwords automatically saved and uses unsecured internet access. This gives the hacker the opportunity to copy and transfer files without the knowledge of the source. Always make it a point to have an authorized and restricted access to wi-fi for better security and other reasons.

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Electronic Theft-
This risk is also quite common and happens especially when your account and bank details are saved on the computer. This result in your money being stolen electronically, misuse of credit card is the most common example, to sum up, what electronic theft is.

Although all these cyber-attacks cannot be avoided if the hackers are using ultra-modern technology and are far more superior in their work. However, this can be prevented by taking precautionary methods like installing antivirus, not withholding and saving important passwords for long in the system, etc.

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