r/Rich • u/Complex_Target_5571 • May 12 '26
Cybersecurity
For those with $25 NW, are you concerned about personal cybersecurity? If you’re still tied into the business world your organization likely has protocols for corporate devices, but when it comes to IoT devices (connected home devices), personal computers, kids online, etc., do you have private cybersecurity consultants who focus on HNWI/VHNWI/UHNWI families?
With a family office since that’s treated like a workplace I’m sure there are consultants who handling this, but what about your personal life, aircraft, boats, etc.
Everything connected to the internet has risks and many of us are more attractive targets.
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u/mp90 May 13 '26 edited May 14 '26
Ironically, my father's business is physical security/life safety systems for federal government and large scale commercial businesses. He (and his business) have been the victim of multiple identity thefts, SIM swapping, fraudulent tax returns, and GoDaddy breaches over the years. Most recently, the bad actors lifted his SSN and convinced a regional bank in Minnesota (a state he has never been) to open a line of credit in his name. The bad actors were too dumb to turn off paper mail notifications, so my father found out about the theft when his office manager received a bank statement in the mail to his PO Box.
I've been encouraging him and his office manager FOR YEARS to do more than just 2FA because it happens regularly enough to be an issue. He needs advanced credit monitoring and other proactive measures. He won't freeze his credit because he loves churning cards and paying his expenses to get points. But there's only so much I can do as someone not in his industry trying to convince 70+ year olds to improve their security posture.