What Does High-Net-Worth Cybersecurity Look Like?

Published on July 20, 2022  |  Cyberfort Advisors
high-net-worth cybersecurity

There are a million ways to mold your cybersecurity practices to fit a business, industry, or financial niche. And as we move into a more digitally progressive phase in both our professional and personal operations, it’s easy to see that some cybersecurity solutions work wonders for one niche but leave gaps and vulnerabilities in other IT and cybersecurity programs.

Though small businesses are more frequent targets of cyber attacks than larger corporations, there are a few important things to consider. First – corporations have a much larger budget to hire IT professionals and keep fully-staffed IT departments, whereas small businesses may be solely relying on one IT professional, or a series of IT and cybersecurity programs and software to protect their business from bad actors.

And lastly, the most frequently targeted individuals in these small businesses are the CEOs and CFOs, some of the top earners in any business structure.

High net worth cybersecurity – the practice of protecting high-net-worth individuals, families, and assets from cyber-attacks – doesn’t look exactly the same as a business’s security program or even a high-net-worth company. Let’s break down what high net worth cybersecurity looks like.

Top High-Net-Worth Cybersecurity Risks

Cybersecurity risks and threats ebb and flow based on global user patterns, the latest cybersecurity tools, and so much more. There are several cybersecurity risks hiding in plain sight.

Social media is a huge one. Whether your account is very private with just a few friends, or you have a large public following, it’s easy to be lulled into a false sense of security when it comes to sharing things online. Your car, house, and other pricey toys, accessories, and high-dollar purchases are often ones you want to share with your social media audience.

But there are millions of false and spoofed social media accounts that are created to gather sensitive information – and you might be giving them easy access if you post details about your large purchases online often.

There are also several cybersecurity risks that come from public status and leadership roles. High-net-worth cybersecurity becomes more complicated when a lot of your personal and professional information is available for scrutiny by the public. Even just being named as a donor or board member can attract hackers.

High net worth individuals also often travel more than the average person, and that means public internet. Your home and workplace may have the best IT protection money can buy, but you can still get scammed or pick up viruses from any number of publicly accessed networks.

These and several other cybersecurity risks can often target high-net-worth people at a higher rate than others.

High-Net-Worth Cybersecurity Best Practices

Cybersecurity risks are unique for high-net-worth individuals, and that means you need unique solutions for protecting your personal and professional information and assets.

Like any IT network, you should be focused on the prevention of malicious activity first. Installing anti-virus protections, firewalls, and malware should be a top priority, especially if you live or work from several locations throughout the year. Make sure your protection software is up-to-date and be sure to review your prevention protocols and plans with an IT expert you trust.

Your name, address, date of birth, and phone number should be sacred. These pieces of information are often used to access important accounts. That means no posting about your actual birth date on your social media or other online accounts. Take your personal contact information out of your bios, and be sure to only give them out to people you know and trust.

As high-net-worth individuals, you can pay for products and services that other people and businesses cannot. It’s important to remember that spreading yourself too thin, however, can be harmful to your cyber safety.

The professionals, products, and services that you employ to protect your assets must also be accountable, and that often comes from your close attention to the details. Spreading yourself too thin by employing tons of different services firms to perform a single or small number of tasks means that something dangerous or harmful can slip through the cracks.

Your family is also likely using devices that are connected to your network, and they also likely have a social media presence online. Discussing best practices and establishing some rules with them can also help to protect your digital assets.

These rules can include what information and belongings can and can’t be included in social media posts, restricting the visibility of your social media and other online platforms to just close friends, family, and professional connections. Talking to your family about cybersecurity helps protect all of you.

A trusted partner and advisor is also a great asset to have in your high-net-worth cybersecurity arsenal. As threats grow and change based on industry changes, market fluctuations, and your own circumstances and needs, having a trusted source for information and advice will never be a bad investment.

CyberFort Trust: For People with High Net Worth

When hackers can’t get through a corporation or business’s cybersecurity defenses, they are now setting their sights on specific individuals. High net worth cybersecurity is a growing need for those who have found themselves in the upper echelons of financial success.

That’s why we offer a tailored solution – CyberFort Trust. Our mission is to be the international cyber risk mitigation firm for high-net-worth individuals and families. This is an area that you and your family may not be as concerned with – your work assets and technology are protected through your business, but what happens when a hacker finds your name and title on the company website?

CyberFort specializes in neutralizing your internal and external threats, including phishing, smishing, identity theft, corporate espionage, and ransomware.

There are thousands of videos on social media highlighting the ease with which someone can find personal details and data about an individual simply by knowing their first name, last name, and the city or state in which they work. Isn’t it time you brought some of that high-powered cybersecurity home? Call CyberFort Advisors today to discuss your options or request a consultation with our experts.