General Partners in UK private equity companies are under increasing pressure to mitigate the business risks associated with the exponential growth in cyber crime. They also face the burden of complying to strict data security requirements of European regulations which include the General Data Protection Regulation (GDPR) and the Alternative Investment Fund Managers Directive (AIFMD).
The Risks are High
Successful cyber attacks use complex, and constantly changing technology to deliver targeted email phishing, viruses and ransomware. Criminals with industry knowledge apply this technology to deliver highly effective campaigns that include ‘fake CEO’ email and drawdown scams. The latter break into internal systems and extract lists of investors and drawdown notices. New notices are forged and easily used to defraud investors.
With responsibility for the investment and management of high value funds, private equity firms have many stakeholders who store and exchange confidential information assets. Limited Partners, portfolio companies, staff, lawyers, advisors – all part of the lifeblood of a PE business but all potential ‘weak points’ that can be exploited in a cyber attack.
Financial Fraud & Loss
Reduced ROI on Exit
Cost of Mitigation
Protection for Portfolio Companies
To protect revenue and preserve the value of an investment portfolio, it is essential for PE firms to ensure that their portfolio companies are applying the best practice for cyber security and regulatory compliance.
Larger institutional investors are also very aware of the risk of cyber attack. The Coller Private Equity Barometer 2016 Report confirmed that 55% of Limited Partners expected a serious cyber attack on their firms in the next five years. A greater portion will now require fund managers to assess cyber risks in the future. During fund raising, demonstrate to your investors that cyber security is your highest priority.
Lack of Cyber Security Expertise
Private equity firms are often smaller organisations (fewer than 50 users) and may have limited in-house cyber security expertise. Qualified cyber security managers are an expensive and rare commodity.
Cyber security is a regulatory burden of the Alternative Investment Fund Managers Directive (AIFMD) and the strict legal requirements of the General Data Protection Regulation (GDPR). Although the May 2018 deadline for compliance to GDPR has now passed, many companies are still struggling to ensure they meet the requirements of Article 30 (Security of Personal Information) and Articles 33/4 (Notification of Data Breach).
CYBERSHIELD MDR-COMPLETE is designed to protect PE firms from advanced cyber attack
Functioning as your security operations centre (SOC), our leading managed 24/7 threat detection and response service helps mitigate cyber security risk by monitoring your critical IT assets, proactively hunting for threats and providing immediate remediation action when required.
CYBERSHIELD MDR-COMPLETE delivers 360° cyber security protection specifically designed for a private equity company. It features Next Generation Antivirus and Endpoint Detection & Response together with email protection, cloud security, vulnerability scanning and regular penetration testing.
Wizard Cyber – Your Trusted Cyber Partner
We are a specialist cyber security provider to private equity firms and their partners in the UK. We are a trusted supplier to many of the leading PE firms and deliver 24/7 outsourced cyber security via our flagship range of CYBERSHIELD-MDR services.
With a dedicated team of experienced cyber security professionals and a pragmatic approach, we will help your organisation to:
- Monitor and protect your IT assets on a 24/7 basis
- Outsource cyber security to reduce the number and cost of in-house staff
- Keep your organisation operating in the event of a cyber breach
- Define and manage a fixed cyber security budget
- Meet the requirements of standards that include GDPR, PCI DSS and ISO 27001
Protect your company from cyber fraud and damage to its reputation.
Find out how CYBERSHIELD MDR-COMPLETE can be fully operational in just two days!
To find out how Wizard Cyber can help you, enter your details in the form and we’ll get in touch.
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