Cybersmart: Understanding and Managing Cyber Threats to High Net Worth Individuals

Cyber Security

Presented by Robert H. Erdmann, ARM, President

Felton, Berlin & Erdmann Insurance Services Inc.

“Today, thanks to mobile broadband, children in developing
countries have more data at their fingertips than the President of the United States had access to 30 years ago. It’s estimated that by 2017, nearly 70% of the world’s population will have mobile
broadband subscriptions and by 2020, the number of networked
devices will outnumber people six to one.

 

While this evolution of the “information age” creates tremendous advantages and helps accelerate innovation, it brings with it new risks. Anthem, Home Depot, Neiman Marcus, Sony Pictures,
JPMorgan Chase, Target and most recently, the U.S. Government, are just some of the household names who have had their customer and employee data exposed by hackers. These attacks have set
industry and individuals on edge and have brought cyber crime into the mainstream.

 

While corporate attacks get most of the media attention, we must not forget that individuals—especially the high net worth—need to be vigilant about cyber security. The potential value of a high net worth victim to a cyber criminal and the uniquely complex lives of the high net worth, place them at higher risk of cyber crime. Trusted employees or third parties help care for their children, manage their
finances, maintain their homes, automobiles and valuable
collections, and more. Each of these connections creates potential for exposure and increases the attack surface for a cyber adversary to focus on. The trusted third party may not have malicious intent, but they may be the unknowing entryway into the individual’s
network or personal data.

 

The good news is that you can protect yourself against cyber risks. This paper touches on the key threats to the high net worth and
provides advice to help reduce the associated risks.”

So, how should you manage your cyber security and what are the risks?

Read the full article by PURE and Concentric at Felton, Berlin & Erdmann Insurance Services Inc.

For more information call 800-215-9980 or go to
www.feltonberlin.com.

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