Rich families skimp when it comes to cybersecurity, and it can cost them millions
Firms that serve the wealthy spend too little to fend off email hacks and ransomware.When it comes to fending off hackers and other cyber threats, the world's richest people can be surprisingly stingy.
More than one-third of North American family offices experienced at least one cyberattack in the past 12 months in 2022, per. But despite having the financial resources, many family offices are reluctant to beef up their cybersecurity because the return on investment is unclear until it's too late. The accounting giant helps process cyber insurance policy claims, assesses risk, and, in partnership with tech firms like Microsoft and Crowdstrike, helps family offices develop response plans to cyber threats.
"Families are porous, and the number of electronic devices and vendors that they have now makes them more porous," he said.
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