As one Australian hedge fund manager found out the hard way, cyber criminals are targeting hedge fund managers, and the consequences of a breach can be dire. In that manager’s case, a fake Zoom invite ultimately led to its fund’s downfall. This two-part series provides 11 lessons that fund managers should learn from the incident and that can hopefully help them avoid similar outcomes. The first article
described the incident that cost the manager $800,000 and a major investor – and ultimately led to its fund’s demise – and outlined the first three lessons for managers. This second article provides the remaining eight lessons. For other lessons for fund managers from a cyber breach, see “What Fund Managers Can Learn About Cyber-Breach Disclosure From Yahoo’s $35‑Million SEC Settlement
” (May 10, 2018).