Agio is a firm that has been making a dramatic impact on the cybersecurity and IT concerns for its clients within the fields of private equity and the hedge fund industry. The firm has a strong understanding of the concerns faced by these types of businesses and has put together a host of outstanding services tailored to give clients a big advantage as they work toward successful hedge fund cybersecurity. With this in mind, the team at Agio points out the fact that these are three of the biggest misconceptions that firms often hold when it comes to their cybersecurity needs.
The Need for Collaboration Between IT and Cybersecurity Teams
One of the big misconceptions that many organizations hold is that issues with cybersecurity are a reflection of the firm as a whole. The reality is that cybersecurity issues can usually be condensed down to an issue with IT. To take this a step further, failure for an organization’s cybersecurity and IT teams to be on the same page can be a significant issue. It is more important than ever for these two areas to be on the same page and work as a team to protect valuable assets and data.
Overconfidence In the Latest Antivirus Programs
Today’s antivirus programs have come a long way and the top of the line versions of these valuable programs do a good job at what it is that they are supposed to do. Regardless of this fact, it is a huge mistake and a misconception to consider an antivirus program to be sufficient in the goal of protecting against hedge fund cybersecurity issues. Firms that are practicing proper diligence in their efforts will also add other layers of security to their cybersecurity protocols. These include having proper data backups and encryptions in place. These can provide an additional line of protection when an intrusion is detected. Agio points out the importance of avoiding this typical cybersecurity misconception when it comes to the realm of hedge funds and private equity.
Important Considerations Regarding Firewalls
Overconfidence in firewalls is another one of those misconception mistakes that are common for today’s hedge and private equity funds. It is important for those who are serious about being diligent in their cybersecurity efforts to realize that today’s hackers are increasingly creative in the way that they plan out their attacks. Having the most current firewall tech in place is a good start as is constant diligence in this area. Smart cybersecurity solutions include staying on top of the most recent developments when it comes to cyber threats.
These are just a few of the major hedge fund cybersecurity misconceptions that have been brought up by the experts at Agio. These three issues are among the biggest of misconceptions that can end up leaving a hedge or private equity fund open as a target for cybercrimes when they fail to be diligent in these areas.