Cybersecurity awareness is more critical than ever. High-net-worth families and individuals are increasingly targeted by sophisticated criminals using personalized tactics. Here are six major cyber threats you need to watch out for, along with immediate action steps to protect your assets.
Attackers monitor email chains between you, your advisor, and your attorney for weeks—then strike at the perfect moment with redirected wire instructions. The emails are contextually flawless. Most banks consider the transfer authorized and will not recover the funds.
Criminals research wealthy families on social media to map vacation schedules, assets, property, and family relationships. This is how targeted burglaries and personalized scams are planned and how attackers learn what they need to run the other threats on this list.
Someone calls claiming a grandchild or adult child has been arrested or injured and needs money immediately. They know names, relationships, and recent details gathered from social media. For wealthy families, the requested amount is larger, and the pressure is deliberately overwhelming.
During closings, criminals intercept emails and send fraudulent wire instructions for closing costs or sale proceeds timed for the last minute, when pressure is highest. HNW families transact in real estate more often and in larger amounts, making them a recurring target.
If the primary decision-maker becomes suddenly incapacitated, many families find they cannot access critical accounts—brokerage, banking, email, or digital assets. HNW households have more accounts and more complexity, making this gap far more costly.
A criminal calls your mobile carrier with personal details from public sources and convinces them to transfer your phone number to their device. Every two-factor authentication code protecting your brokerage, bank, and email accounts now goes to them instead of you.