Staying protected in the digital age

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Ruffer provides investment management services for institutions, pension funds, charities, financial planners and individual investors.

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Ruffer LLP
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31 Charlotte Square
Edinburgh EH2 4ET

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Michal Garman

Head of Information Security (CISO)

4 November 2024

Cybercrime is booming. The global cost of attacks is expected to reach $9.5 trillion in 2024. And that’s to say nothing of the emotional suffering, reputational damage and sheer hassle of disruption.

Unfortunately, high net worth individuals are particular targets, due to the high value of their transactions and often the sensitivity of their data. And cybercriminals are employing increasingly sophisticated tactics.

At Ruffer, we are continuously developing and enhancing our security framework to keep your information safe, accurate, confidential and private, as well as available to you. This commitment extends to our clients, business partners and suppliers. The following is a list of common cyber threats, what you need to know and do to help keep your data secure.

Phishing

Phishing is usually an email or a telephone call (also known as vishing) which appears to be from a reputable source, such as a person or company you know. They often create a sense of urgency to pressure you into providing sensitive information, such as bank details, or granting access to computers or smart phones.

Ransomware

Ransomware is a type of malicious software (malware) that encrypts your data and ‘locks’ your device. The attacker then demands a ransom for the decryption key. Ransomware attacks may make your device unusable and may cause substantial financial and reputational damage.

Identity theft

Cybercriminals may steal personal information, such as credit card and bank details, which they then use to impersonate people or companies and make unauthorised transactions. This can result in financial losses as well as long-term reputational harm for individuals and organisations.

So how can we minimise the risks from cyber attacks?

Awareness and education

Stay informed about the latest cyber threats and how to recognise and respond to them. We’ve created a printable guide on cybersecurity best practices.

Strong passwords and multi-factor authentication (MFA)

You can significantly improve your protection by using strong, unique passwords for different accounts. Where possible, also enable MFA, where a code is sent to your phone or you use an authenticator app. This adds an extra layer of protection to prevent criminals accessing accounts even after the username and password have been compromised.

Software updates

Remember to update all software, including operating systems and applications on computers, tablets and smart phones. Software companies and device manufacturers offer these updates to close vulnerabilities that cybercriminals could exploit. Software updates are a critical step in maintaining digital security. They should be implemented straight away.

Financial monitoring

Regularly monitor all your financial accounts. If you detect any signs of suspicious activity, inform the account provider immediately, to prevent further damage.

Conclusion

As cyber threats continue to evolve, users and organisations need to remain vigilant and proactive. By understanding the risks and implementing comprehensive security measures, we can protect our assets and maintain our peace of mind in an increasingly digital world.

Michal Garman

Head of Information Security (CISO)

GET IN TOUCH

Piers Wheeler

Director – Institutional

T +44 (0)20 7963 8258

Developing and executing asset management strategy for capital raising and strategic relationship management. Coverage includes EMEA, Asia and Australia. Piers joined Ruffer in 2021, having previously worked with asset management firms including Eastspring, AMP Capital and LEK as a strategic consultant. He holds a MA from the Bayes Business School and a BA (Hons) from the University of Oxford.

Annabel Paterson

Senior Associate – Institutional

T +44 (0)20 7963 8123

Joined Ruffer in 2021, having graduated with a first class honours degree in land economics from the University of Cambridge. After two years working with the UK Private Wealth team and completing her IMC and CFA Level I qualifications, she now supports Ruffer’s global business development and client servicing efforts.

Articles by Annabel

Your privacy matters

Staying protected in the digital age