Security for business families: protection against modern threats!

Security for business families: protection against modern threats!

Business families are facing an increasingly complex threat situation that goes far beyond traditional security aspects. According to a recent report by the University of Witten/Herdecke They are potential targets for shitstorms, cyberattacks and even physical attacks such as kidnappings. While many companies have implemented comprehensive security strategies, family areas often remain unprotected.

Together with the H&K Crisis Workshop, the WIFU Foundation has published a new practical guide entitled “Security in Entrepreneurial Families”, which addresses this issue. The authors Sabine Habersatter, Nico Krone and Prof. Dr. Tom A. Rüsen emphasize the vulnerability of entrepreneurial families and the often underestimated threats associated with them. Wealth, media exposure and social engagement increase the visibility of these families and contribute to greater risks.

Security strategies for business families

The guide provides structured information on security measures, covering technical, organizational and personnel aspects as well as subjective security needs. A central message is to promote the self-efficacy of entrepreneurial families. This includes behavioral changes, media literacy and a better understanding of one's own risk perception. Security is viewed as an ongoing process that requires participation and open dialogue within the family.

Practical examples illustrate the risks: A tragic example is the robbery of a business couple, which highlights the false sense of security. Loud WIFU The guide is available online free of charge and is aimed at entrepreneurial families, shareholders and their advisors.

Cybersecurity in focus

As a result of digitalization, the number of cyber attacks is increasing dramatically. Experience reports from managers show that corporate data is now the main target of criminals. The managing partner of the jeweler Wempe, Kim-Eva Wempe, notes that ransom demands are no longer only associated with child abductions. Over 46 percent of companies stated in a survey that they had already been the victim of a cyber attack.

Thomas Pilz, who also fell victim to a serious cyber attack in 2019, remembers the shock when his company's data was encrypted across 42 national companies. The lack of an emergency plan in written form made the response significantly more difficult, so documentation had to be done using paper and post-its. The family council ultimately decided not to pay the demanded ransom and to take alternative countermeasures.

The security strategies and experiences discussed underline the need to view security issues not only as a technical but also as an emotional and organizational issue. Business families must be prepared to see their protection as an integral part of the family strategy.

At a time when risks are increasing, developing tailored protective measures for business families becomes essential - integrating these aspects into existing governance structures is the key to successfully averting future threats.