Combating Insider Threats in Family Offices
A Cross-Risk Domain Framework for Prevention and Detection
Family offices face unique and evolving risks from insider threats—those within the trusted circle who may intentionally or unintentionally compromise sensitive information, assets, or personnel. Remote work, diverse insider profiles, inconsistencies in background checks, and informal family office security infrastructures all contribute to these risks.
In this white paper, we look at the specific challenges that family offices face, such as how to detect potential threats from employees, contractors, vendors, and even family members. Insider threats can arise from various motivations, such as financial gain, personal grievances, or simple negligence, and may take many forms, from unauthorized data access to physical security breaches.
The paper provides a cross-risk domain framework for developing a tailored Insider Threat Management Program (ITMP). This comprehensive program focuses on prevention, detection, and response strategies to protect family assets, privacy, reputation, and long-term legacy. By taking these proactive steps, family offices can significantly reduce their vulnerability to insider threats.
Key insights include
01.
What insider threats are and how they manifest in family offices
02.
Common misconceptions
about insider threat programs
03.
Practical steps to develop and implement an ITMP
04.
How to safeguard against insider threats across multiple risk domains (e.g., privacy, technological, financial, reputational, operational)
05.
Tailored strategies for emerging and established family offices
Family offices must take proactive steps to protect sensitive information and avoid potentially devastating insider threats. Don’t wait until an issue arises — instead, take the first step towards fortifying your family office today.