The private lives and professional reputations of wealthy individuals and their families are in the spotlight today more than ever. By staying highly connected online, people can keep in touch with close friends and family anywhere in the world, plus bolster their personal brand and become effective influencers.
As an example, when it comes to philanthropic activities, sharing photos online to promote a fundraising event or making a post asking for donations has come to be standard in today’s world. The reach of social media makes it much easier to raise millions of dollars for worthy causes.
Or when it comes to business, wealthy people can gain an online following by promoting their company’s brand or products. In their personal lives, their families often share photos of their luxury travels or newly acquired assets, like a yacht or private jet, to their online connections.
As you share more personal details online, you curate more than an online presence—you catch the attention of those will ill intentions. This is why evaluating your publicly facing profiles can help protect you, your family, and your assets.
We’ll help you understand:
- The risks in having a public-facing online profile
- The importance of regularly evaluating your profiles
- The steps you should take to assess your online presence
Why be proactive in your cybersecurity efforts
Today, cybercriminals commit more online crimes than in the past and the types they perpetrate are increasingly sophisticated. In 2021, the FBI reports a record number of complaints filed by victims of Internet crime, such as identity theft, extortion, and fraud.
Wealthy individuals and families naturally attract criminals because of their public visibility and reputations. For example, those who make charitable donations often have their names and financial contributions noted in local publications. Publicizing this information creates a multitude of vulnerabilities, especially when criminals know your personal information.
For anyone who regularly posts online, it’s easy to piece together where a person lives or spends leisure time. Since any information you post online typically exists forever, it does not matter if you delete your posts. Once criminals compile your information over time, they can use it to plan a wrongful act against you or your family.
Evaluate your online presence
Begin evaluating your online presence by establishing and reinforcing your and your family’s overall communication and social media strategy.
Each time you set up an online profile, ask yourself the following questions:
- What is the motivation or intention for setting up this profile?
- How will this profile be used — personally or professionally?
- What example am I setting for others within my family?
- Who will have access to the login information, including the password?
- How much thought have I given to creating a strong password?
- Where will I store passwords, and how often will I update them?
- Will I use a multi-step process to log in, such as multi-factor authentication?
- Which (if any) family members, colleagues, or domestic employees will have login access for online profiles?
- How often will I or others post, and what will be the content of the posts?
- At what point will a family member experience deletion of his or her account?
- What are the rules of the employer regarding social media use during working hours if you or your family members work remotely at home?
Be proactive
Review privacy settings regularly and hold family meetings to identify where security gaps may lie. It’s important to practice good cyber hygiene and understand how one family member’s posts can influence the rest of the family.
Use our team’s expertise to help you identify where your family’s vulnerabilities exist and craft strategies to protect against an unintended loss. Let’s start your cybersecurity review today.
This document is intended for general information purposes only and should not be construed as advice or opinions on any specific facts or circumstances. The content of this document is made available on an “as is” basis, without warranty of any kind. The Baldwin Insurance Group Holdings, LLC (“The Baldwin Group”), its affiliates, and subsidiaries do not guarantee that this information is, or can be relied on for, compliance with any law or regulation, assurance against preventable losses, or freedom from legal liability. This publication is not intended to be legal, underwriting, or any other type of professional advice. The Baldwin Group does not guarantee any particular outcome and makes no commitment to update any information herein or remove any items that are no longer accurate or complete. Furthermore, The Baldwin Group does not assume any liability to any person or organization for loss or damage caused by or resulting from any reliance placed on that content. Persons requiring advice should always consult an independent adviser.
