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.
Secure Working From Home During Coronavirus
In the wake of the coronavirus, many organisations internationally are allowing people to work from home to lessen the risk of contagion, but is this wise from a cybersecurity point of view? While companies generally have a cybersecurity policy in place that governs the use of anti-virus and firewall protection, individuals without any tech knowledge could fall foul of cybercriminals.read more
Crypto Miners, Targeted Ransomware Dominate the Threat Landscape
Twenty-eight per cent of all organisations worldwide were impacted by malicious multi-purpose botnets and targeted ransomware attacks rose by 20% according to Check Point Research, the Threat Intelligence and Research arm of Check Point Software.read more
Kaspersky's Top 7 Mobile Security Threats in 2020
Mobile device security threats are on the rise. In 2014, Kaspersky detected almost 3.5 million pieces of malware on more than 1 million user devices.read more
SEC Releases Guide To Combat Cybersecurity Threats
The Securities and Exchange Commission has released a guide to best practices to combat cybersecurity infractions, data loss and privacy breaches.read more