Hedge funds are one of the most susceptible industries when it comes to targeted cyber attacks.
These attacks can take many forms, but one of the most common cyber breaches that affects hedge funds is that of ransomware.
Ransomware is a type of malware that can block access to, or even publish, the private data of a computer system. This is typically done through use of encryption to keep the true owner of the system out of access. Typically, ransomware perpetrators will then demand a ransom fee in order to allow access to one’s own data. Data can be either deleted or published after a deadline set by the malicious party has passed.
Ransomware attacks have become more and more common as malicious parties have attained easier access to the necessary malware. Major industries throughout the United States and Europe have become victims to these attacks, perpetrated by individuals who often cannot be traced. Those in the financial investment industry have been particularly vulnerable by these new advancements, and as such have had to shore up cybersecurity procedures across the board. Never has it been more evident that hedge funds need a strong cybersecurity support system meant to mitigate breaches as well as prevent attacks before they become serious. Malicious parties are always approaching their targets differently as new advancements in malware technology continue to fight against advancing cybersecurity procedures.
According to the cybersecurity experts at Drawbridge, a generic cyber platform cannot effectively support a hedge fund’s cybersecurity needs. With Drawbridge’s state of the art technology platform your hedge fund can be managed, despite all of its complexities, thanks to emergent technologies that can target breaches in real-time.
