In recent years, cyber ciminals have recognized that business data, like consumer data, is valuable and vulnerable. Private equity (PE) firms possess an abundance of this sensitive information in the form of company, employee, and investor data. As a result, cyber criminals are increasingly targeting PE firms, as well as the numerous subsidiary portfolio companies they manage.
Cyber criminals perpetrate attacks on PE firms by sending sophisticated spear phishing emails. Once inside the IT network, they can access bank account information and even insert themselves in the middle of investor fund flow transfers to siphon millions from accounts.
Cyber criminals also target PE portfolio companies, conducting ransomware attacks and bringing business operations to a halt by contaminating IT systems with encryption malware and demanding bitcoin payments to restore the systems. With leveraged balance sheets and short-term debt interest payments to make, PE portfolio companies are often left with no choice but to pay the ransom. To make matters worse, the business interruptions and related liabilities associated with a cyber breach can put downward pressure on PE portfolio company valuations and overall investment performance. It’s a no win situation for either party.
Cyber risk management involves sustaining a robust internal cybersecurity effort. The sheer significance and scope of this undertaking is often quite daunting.
Your firm needs a partner in cyber risk management, and that’s where ControlScan comes in. ControlScan is a leader in managed security solutions. Our elite cybersecurity professionals leverage the latest security technologies to support thousands of businesses with a single goal: Stopping cyber criminals in their tracks.
We make choosing a cyber risk management program easy, because we work with you to determine the solutions that best align with your goals.
Robert Dunn, Managing Director at Thompson Street Capital Partners
Today’s security threat landscape can be panic-inducing, especially when thinking about all the potential entry points and vulnerabilities a cyber criminal can exploit. But with ControlScan, you’re not alone. Partner with us for cyber risk management that delivers 24x7 peace of mind. We’ve got your back.
Let’s talk! Contact your ControlScan security representative to discuss your firm’s cyber risk management needs, or fill out the form below.