March 24, 2020
Publication: Forbes
Kobre & Kim’s Robin Rathmell sat down with Forbes to discuss the increasing threats faced by high-net-worth individuals (HNWIs), including a rise in cyber threats during the coronavirus (COVID-19) pandemic.
Rathmell points out: “Prominent, wealthy individuals always have a target on their backs. Whether it is a cybercriminal, a private or commercial adversary, or even a rogue government authority, many if not most HNWIs will experience attacks on their assets and sensitive information at some point.” This could be exacerbated by insufficient or poorly used cybersecurity systems with regards to cyber threats, leaving HNWIs vulnerable.
This vulnerability is compounded by the increase in cybercrimes during the COVID-19 pandemic, putting many HNWIs in danger. Rathmell’s advice is: “Only a holistic approach – one that accounts for financial, reputational and legal risks together – can truly mitigate risk. HNWIs and those advising them should remember that proactive risk mitigation is always better than reactive firefighting.”