Cybercriminals are increasingly targeting ultra-high net worth individuals and their family businesses. Lewis Henderson, vice president of threat intelligence at the UK-based Glasswall Solutions, says some attackers find it increasingly challenging to get into large corporations and are putting more of their efforts into attacking the super-rich and their estates and businesses.
"We've found that they are using similar tactics and techniques, such as using email and attachments and ransomware," Henderson says.
The conclusions drawn by Glasswall mirrors research conducted by UK-based Campden Wealth, which found that 28% of the UHNW families reported having been the victim of one or more cyberattacks. While UHNW families have an estimated net worth of at least $30 million, Campden Wealth recommends that those setting up single-family offices have wealth of $150 million or more.
Many of the families that open single-family offices have far in excess of $150 million, with their average net worth standing at $1.2 billion, according to the Campden Wealth/UBS Global Family Office Report.
Dr Rebecca Gooch, Campden Wealth's director of research, says phishing was the most common type of attack, followed by ransomware, malware infections, and social engineering. She says UHNW individuals are targeted in a variety of ways including via their operating businesses, family offices, or through the family members themselves.
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