Wealthy individuals are increasingly becoming prime targets for cybercriminals, driving a surge in demand for personal cybersecurity concierge services among high-net-worth families, wealth managers, and corporate executives. Recent high-profile incidents, including the hacking of Jeff Bezos’ phone through a malicious WhatsApp video file and the Twitter account breaches of Bill Gates and Elon Musk for bitcoin scams, have highlighted the vulnerability of affluent individuals to sophisticated cyber threats.
Growing target population
Bill Roth, CEO of HardTarget, a cyber resilience firm specializing in wealthy families, emphasizes that “high-net-worth families are now the low-hanging fruit for cybercriminals”. Despite possessing resources comparable to large corporations, these families often lack equivalent security measures, particularly for personal devices and home networks that remain inadequately protected compared to corporate systems.
The scope of targeting extends beyond billionaires to include family offices and corporate leaders. According to JPMorgan Private Bank’s 2
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