Social Networking Risks for High Networth Individuals

Owens Group

The proliferation of social networking site use has grown in recent years. Families with a high net worth may think nothing of using the sites to share personal information. Criminals can use these sites to cause the family harm making cybersecurity for high networth individuals imperative.

Social Networks

Individuals often engage with family, friends and the wider world through services such as Facebook, Instagram, Twitter, TikTok, Pinterest, and LinkedIn. There are even more networking sites available where family members can expand their global reach. Many of these sites collect tons of data from individuals to even use the site. Some sites work in the background mining and storing data. All of these exposures put the family at risk for a criminal attack.

Family Safety

The experts at Owens Group states that family offices face exposure from social networking sites. Criminal networks use these platforms to access sensitive information. They then use that information to negatively go after the family’s safety, security and reputation. Criminals can access the family’s address or normal schedule from social networks then use that information to plan a kidnapping. Family members must pay a ransom to receive the kidnapped member back.

Cybersecurity for high networth individuals offers protection against both simple crimes and organized criminal networks. Families should evaluate their cybersecurity plans to ensure they are completely protected from potential criminals.