- with readers working within the Retail & Leisure industries
- within Government, Public Sector and Accounting and Audit topic(s)
- with Finance and Tax Executives
Extraordinary financial achievement comes with a new set of risks: increased exposure to cyber threats. Today, individuals and families with significant wealth are prime targets for cybercrime. Wealthy clients, VIPs, and family offices handle complex financial transactions, confidential correspondence, and sensitive personal data every day—often across multiple countries and devices. Safeguarding that digital footprint is now as critical as securing physical assets.
One of the most effective and often overlooked tools for doing so is the Virtual Private Network (VPN).
Why a VPN Is Important
A VPN encrypts your internet connection, helping to keep online activity—from portfolio management to private communications—shielded from prying eyes. It can prevent hackers, service providers, and even public Wi-Fi operators from accessing or monitoring your data.
At work or within the family office, a VPN helps secure remote connections to financial platforms, banking portals, or cloud-based systems. This is particularly important for staff and advisors who travel or work from multiple locations. VPNs help maintain confidentiality, protect transaction details, and reduce the risk of financial data leaks or ransomware attacks.
At home, where networks are often shared among family members and connected smart devices, a VPN adds a layer of discretion and privacy. Whether managing investments, hosting virtual meetings, or simply browsing, your personal data remains encrypted, and your IP address concealed.
During travel, a VPN is indispensable. Public Wi-Fi networks—even in five-star hotels, airport lounges, and private clubs—are notoriously unsafe. This vulnerability is even greater in airports and on airplanes, where travelers often rely on public or semi-public networks to check financial accounts or access sensitive messages.
Attackers can easily set up fake Wi-Fi networks that mimic legitimate ones, tricking users into connecting and exposing their credentials, emails, or financial logins. Whether you're using Wi-Fi at a busy terminal, on board an aircraft, or in a lounge, a secure VPN connection can help protect your information wherever you go.
Beyond VPNs: Building a culture of digital security
A VPN is just one piece of a broader digital defense strategy. Private clients and family offices should adopt a disciplined approach to cybersecurity, mirroring the rigor used in wealth preservation and estate planning.
Here are key principles to follow:
Use strong, unique passwords for every account and enable multi-factor authentication (MFA).
Avoid password reuse. A reputable password manager can generate and store complex credentials securely. MFA, especially via hardware tokens or authenticator apps, provides additional protection even if a password is compromised.
Employ robust antivirus and endpoint protection.
Sophisticated malware can silently infiltrate personal devices or family office systems. Advanced endpoint protection can detect and isolate threats before damage occurs.
Keep all systems and software updated.
Updates frequently contain security patches. Overlooking them creates entry points for cybercriminals—even on luxury devices or custom systems.
Minimize the attack surface.
Limit access privileges, close unused accounts, and disable unnecessary smart features on devices. Every connected device is a potential doorway.
Stay alert to social engineering and phishing. With so much of our personal and professional lives contained on our devices, even a single lapse in judgment can expose vast amounts of sensitive information. Cybercriminals often impersonate trusted contacts—private bankers, advisors, even family members. Always verify unexpected requests for information or funds through a secondary communication channel.
Protecting more than assets
For affluent individuals and family offices, cybersecurity isn't just about data protection—it's about safeguarding reputation, privacy, and legacy. A breach can have lasting financial, legal, and personal consequences.
By combining VPN use with disciplined cyber hygiene, you can create a digital environment that reflects the same level of discretion and security expected in all other areas of private wealth management.
Digital security is the new form of personal security. Protect it with the same vigilance you dedicate to your wealth.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
