Private Equity Funds: Cybersecurity Consulting & Internal Audits
Private Equity Funds Team Lead – Timothy E. Allen | Former Special Agent (U.S. Secret Service & DOJ-OIG)
Internet-driven attacks on corporations are widespread today. Cybersecurity has become a key concern for corporations––including private equity (PE) firms––with the number of recorded cyber breaches in 2019 alone reaching 1,473 and representing exposure to over 164 million sensitive records. Considering past reports have indicated that 80% of American companies have been hacked successfully, the importance of cybersecurity consulting and internal audits cannot be overlooked.
Corporate Investigation Consulting offers cybersecurity consulting services and internal auditing services to ensure PE firms are safe from cyber-attacks. Our services extend to investigating hacks and ensuring a company has the right internal controls to ensure hacks never happen.
Cybersecurity Issues We Can Investigate and Prevent
Hackers know common vulnerabilities in PE firms and continuously target such vulnerabilities. We help PE firms deal with:
Surprise Cybersecurity Attacks
PE firms deal with enormous amounts of sensitive data. Such data resides in servers, cloud services, hard disks, among other storage resources, and grows exponentially over the years, creating unique risks. Advanced technologies like IoT have introduced cyber threats to all computing devices used in business. PE firms must grapple with unprecedented attacks going beyond typical computing resources.
Corporate Investigation Consulting has cybersecurity experts who can monitor a firm’s threats and provide proactive measures to neutralize and monitor for threats. Call us if your organization is facing unprecedented cyber challenges: 866-352-9324.
Corporate Cyber Espionage
With increasing cloud adoption in many organizations, PE firms are facing serious threats. Intruders from within or outside a firm can attack hybrid cloud technologies, steal sensitive customer information, and sell trade secrets and intellectual property.
Businesses should have internal controls (policies and processes) regarding cybersecurity that reduce cyber espionage risks. We are among the few cyber espionage experts that serve PE firms nationwide. We investigate threats, find culprits and ensure they are prosecuted. Our experts can also do damage control in the event of an attack.
Data Theft
Data has become “the new oil.” Cyber threats are no longer targeted on hard cash but information that can be traded or used to extort. Ransomware attacks are good examples of attacks on a PE firm’s data resources. Hackers love to invade compromised data systems and lockout firms.
In ransomware attacks, hackers must be paid off to grant access back to a firm.
In such instances, we can investigate the extent of such attacks and ensure they never recur. We can also assist with legal claims that may arise from stolen consumer records. PE firms can be sued for failing to institute proper cybersecurity measures to protect their data. We can provide legal expertise in such cases.
Our cybersecurity experts understand the latest methodologies used by hackers today and how to mitigate against large scale data threats. We have the capacity to investigate mobile data threats and related intrusions originating and targeting mobile devices.
Cybersecurity Policy-Related Threats
Most cybersecurity issues affecting PE firms today stem from lacking a cybersecurity policy or having an inadequate one.
Our cybersecurity consulting and internal audits services can investigate the presence/lack of a cybersecurity policy.
Firms must meet certain security standards to do business today. Increasing cyber threats and their financial consequences have left C-level management more aware of the importance of having the right internal policies and procedures.
According to 2020 estimates, a single data breach cost to a firm stands at approximately $8.6 million compared to the global average of $3.86 million. The costs include response activities such as hiring experts, credit report monitoring, and lost business costs related to poor reputation and diminishing consumer and contractor confidence.
Given the cost implications and most firms suffering threats linked to the lack of a comprehensive cybersecurity policy, it’s clear why cybersecurity experts like us are important. We craft policies that ensure PE firms are able to:
Detect cyber risks early, establish strong cybersecurity governance, establish cybersecurity policies and oversight processes, protect a firm’s network, cloud, computers, servers, and other cyber-related resources. Our services make it possible to detect unauthorized access, handle third-party risks from vendors, contractors, support staff, etc. and identify remote access risks related to client data and fund transfer processes.
Cybersecurity Compliance
PE firms are supposed to comply with many regulations. Cybersecurity compliance is one such area that is continuously evolving and making compliance difficult.
Corporate Investigation Consulting has experts in compliance laws nationwide. Our understanding of state and federal regulations unique to PE firms operating in any industry makes it possible for us to guarantee cybersecurity compliance.
This service involves representation and support in cybersecurity compliance issues. Firms that are guilty of noncompliance can count on us to defend them. Let’s discuss your cybersecurity compliance case now: Call 866-352-9324. Our service can be the determining factor in a lawsuit or regulator actions such as hefty fines or licensing issues.
Inadequate Staff Training
PE firms may have the best cybersecurity compliance policies, programs and/or processes in place, however, they do not mean much if the staff is not trained on good cybersecurity practices.
We can facilitate training and awareness programs to keep a firm’s workforce aware of their unique role in preventing and dealing with threats. Since many cyber threats are facilitated internally by innocent employees going about their regular duties, it counts to have a well-informed team.
Our cybersecurity consulting and internal audits services can assess common employee-related cyber threats in a firm and facilitate training programs that address such threats.
Our Advantage
Cybersecurity threats are a pressing concern for all private equity firms today. Considering the incentives that hackers have to intrude systems and the consequences PE firms face if intrusions succeed, every PE firm needs a cybersecurity consulting partner. However, not all experts deliver good results. We stand out because:
We have cybersecurity experts nationwide and beyond: Corporate Investigation Consulting can address any internet security threats faced by PE firms operating anywhere in the U.S. and beyond. View our team here.
Unmatched service variety: We can handle all threats ranging from network security and critical infrastructure threats to applications security, cloud security, mobile device security, IoT, and more.
Free consultation: We offer free, non-obligatory & confidential initial consultations. Contact us online or call 866-352-9324 to get in-depth information on how we can help you and more on why we are the best corporate investigation consultants nationwide!