Simply implementing new measure and testing new systems is just one part of improving the IT infrastructure. Making sure that the systems are resistant to cybersecurity threats is potentially even more important. Cybersecurity threats are getting ever more potent as hackers are finding new and creative ways to gain access, such as an incident in 2008 when an entity stole data from a casino by hacking into a fish tank thermometer connected to Wi-Fi.

It is almost impossible to gauge how resistant your firm is to cyber attacks with just high-level knowledge. The recommended way to monitor your firm’s financial safety is with a due diligence questionnaire (DDQ). A comprehensive DDQ should cover a huge range of topics and dive deep enough to have a nitty-gritty understanding of what kind of data is dealt with and the security of each piece.

On April 16^th 2019, the SEC’s Office of Compliance Inspections and Examinations (OCIE) launched a formal Risk Alert that documented common deficiencies in firms handling sensitive customer data. The defects range from mishandling and distribution of customer information to common system vulnerabilities.

At Agio, we pride ourselves in the cutting-edge IT and digital security services that we provide. In response to the OCIE’s risk alert, we updated our comprehensive SEC cybersecurity mock audit service to capture real life scenarios a firm faces when audited. We’ve included a few questions that we ask during our mock audit process

Technology Vendor

• When did the firm last perform thorough due diligence on its current IT vendors?

Data Management

• Is sensitive customer data being sent to personal devices?
• Does the firm have a formal and documented policy for accessing data?
• Does the firm’s IT staff or technology partner have complete access to sensitive company information? Should they see everything?
• What is the protocol for when customer information is suspected to be lost?
• What third-party platforms are used to aggregate data? And how is the data being stored?

Network Security Policy

• Does the firm have an intrusion detection system (IDS) to prevent unauthorized access?
• How are employee emails protected against spam or phishing attempts?
• Is there a solution in place to ensure devices are secure in the event of loss or theft?

Disaster Recovery

• Is there a formal and well-documented business continuity plan?
• Are there dedicated sites or locations to preserve data and back up data?
• Has the disaster recovery plan been tested?

As bad as this may sound, hacking a private equity firm is a big business for attackers. Most firms are prone to these cybersecurity threats as they have no time going about how well they are protected digitally. They devote most of their time and resources in doing financial transactions. Hedge fund cybersecurity, as Agio found out, can be vulnerable with ill-equipped operations and hacked within just a few minutes.

Before anyone begins asking “how to start a private equity firm,” they must read through Agio’s tips first.

Be Up-To-Date With Updates

Most systems being used by firms run on operating systems that are outdated. There is a reason why brands like Microsoft and Apple regularly update Windows and MacOS. Hackers devise new methods to penetrate a database and a way to counter this is by creating new security measures as well.

In the case of Agio’s experiment, the hole in the firm’s defenses was a printer running on an operating system that was several years old. It offered little to no resistance at all when attacked with modern cyber attacks.

Have Better Control Over The System

Another issue with most private equity firms is that their databases are not properly handled. The managers use the same password for every account and their networks are easily accessible by everyone. This leaves a lot of holes within their defenses. For private equity firms that are almost always online, this is bad news as hackers could cause all sorts of chaos simply by connecting to the local Wi-Fi within their property.

Make Restrictions

Agio recommends that private equity firms should not be too lenient when it comes to creating restrictions for their clients. They should set limitations of networks and devices like printers. This leaves them open for hacking by nearly just about anyone that steps through their doors.

Discuss Matters With The Pros

Perhaps the biggest takeaway from all of this is that professional cybersecurity firms like Agio are important. Without them, the firm wouldn’t even have noticed that they had so many flaws.

Running a private equity firm means having to invest in various services. If there is one service managers shouldn’t skip out on, that should be cybersecurity. There are countless digital threats that could endanger a firm and its clients and as such, firms that provide a bigger wall of protection are a must.

The real threat to private equity firms and other businesses lie within the digital world. From online scams to ransomware attacks, almost every entity is prone to attacks. However, with the help of brands like Agio, the digital world will become a safer space for a company to thrive in.

The primary purpose of blood is to transport oxygen from the lungs to the rest of the body. Without a constant supply of oxygen, we would unarguably die in just a few minutes.

The system that is responsible for distributing blood throughout the body is the cardiovascular system,which consists of the body’s blood vessels and the heart. There are two types of blood vessels: arteries, which carry oxygenated blood from the heart to the head, feet, and hands; and vessels, which bring deoxygenated blood back to the heart, as well as waste products that the body has determined are not useful. The heart, of course, is responsible for pumping blood throughout the arteries and blood vessels.

Plaque is a substance that is made up of cholesterol and fats. This type of plaque is different than the type that in our mouths, which is made up of bacteria and causes tooth decay. Plaque is a white, yellow-tinted substance that collects on the inside of arteries.

Over time, plaque gets in the way of blood flow. In some cases, arteries get so fullof plaque that they completely clog up. This results in a heart attack. People who have tons of plaque coating their arteries are also likely to suffer from strokes.

Plaque isn’t the only enemy of people’s cardiovascular systems, however. Some of the other most prominent enemies of healthy arterial function are smoking, poor diet, stress, diabetes, high cholesterol levels, and high blood pressure, among many others. These factors, along with aging, causes arteries to become more narrow and stiff, restricting the amount of blood that can flow from the heart throughout the arteries.

Since there is less oxygen traveling throughout the body in people who suffer from such narrow, stiff arteries, a condition that is known as arteriosclerosis,a cornucopia of problems often rear their ugly heads, including necrosis, pain, and constant tingling of feet, toes, fingers, hands, wrists, and ankles.

Metro Vascular Centers, fortunately, regularly treats people who suffer from vascular disease and peripheral artery disease, a highly common problem that Americans have with their vascular systems that is defined as reduced blood flow that results directly from narrow, stiff arteries. Also known as PAD, peripheral artery disease also often results in heart attack or stroke.

The first treatment that Metro Vascular Centers offers to patients suffering from these issues is the implementation of stents. Stents are hollow metal tubes that are used to widen arteries. They are surgically implanted.

Angioplasty is the second treatment that the pros at Metro Vascular Centers offer. Angioplasty involves guiding a balloon throughout the body until it reaches arteries that are at risk of becoming clogged. The surgeon inflates the balloon momentarily, which results in the compounding of plaque, effectively opening up the arteries that surgeons perform the angioplasty procedure on.

What is a Bitcoin ATM?

It is simply a kiosk that lets one purchase bitcoins using real cash or a debit card. Some types of bitcoin ATMs offer bidirectional functionality, such that one can buy and sell bitcoins for money. There are cases whereby some bitcoin providers require one to have an account for transacting on the ATM.

There are two types of these machines, the cash kiosk, and the bitcoin atm. They are all connected to the internet to allow for cash or debit card payment in exchange for bitcoins given as a paper receipt or moving cash to a public key on the blockchain.

These machines resemble a traditional atm, but they are not connected to a bank account but instead connect the user to a bitcoin exchange. On the other hand, there are bitcoin-enabled ATMs, and these are traditional ATMs which are connected to a bank account and allows for the purchase of bitcoin without cash.

The Future of Bitcoin ATM

The first cryptocurrency ATM was installed in a Vancouver coffee shop in 2013. To date, there are more than 4000 cryptocurrency ATMs throughout the world. Research shows that there are five new cryptocurrency ATMs installed daily. The rapid growth of cryptocurrency atm and specifically bitcoin atm shows that there are great advantages of having them in place.

Benefits of Bitcoin ATMs

Money Transfer

Bitcoin ATMs have increased the ease of access to money. A user can convert cash into bitcoins and send it to a receiver’s wallet. The receiver can as well go to the atm and convert the received bitcoins into cash. The process is hassle-free and requires a lesser transaction fee.

Privacy and Anonymity

Most people prefer bitcoin atm because they provide higher anonymity as one doesn’t have to meet anyone to do complete the transaction. They only need to interact with the machine. The user also doesn’t have to deal with huge exchanges to convert their currencies. In case a technical problem with the machine arises, you need to report it to the respective bitcoin atm provider to be fixed.

About CoinFlip

Daniel Polotsky is the CEO of Coinflip project, a cryptocurrency ATM company. In an interview, he says that his first encounter with a bitcoin atm was in Chicago, at Cassava in Wrigleyville. He says that while it gave him an awesome experience, it was not so user-friendly and so he decided to go to localbitcoins.com and bought bitcoins through in-person meetup. He and his trading company then started chatting about a bitcoin atm and thought it was a good idea. Some months later, the two came up with their bitcoin atm.

He says that CoinFlip differs from other cryptocurrency ideas as it lets customers purchase cryptocurrencies without having a bank account or waiting for long periods before they can be approved. CoinFlip offers the lowest bitcoin atm rates. Also, registration is hassle-free and can be completed on the phone in just 5 minutes.