In today’s highly digitalized world, successful individuals remain prime targets for cybercriminals. With substantial assets and a lifestyle that involves considerable digital engagement, you’re more vulnerable to cyber threats than ever before. Even with the best defenses in place, no one is entirely immune to a breach, which is where cyber insurance plays a crucial role in your wealth management program.
FACES OF CYBERCRIME
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Identity theft and fraud. One of the most significant risks you face is identity theft. Cybercriminals can steal personal information resulting in unauthorized access to financial accounts, fraudulent transactions, and even the creation of fake identities to drain funds or request loans.
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Ransomware attacks. This malicious software locks you out of your systems or data, often threatening to expose sensitive information unless a ransom is paid. In these cases, the financial impact can be significant, not just because of the ransom demand but also due to the cost of data recovery efforts and restoring reputational damage.
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Social engineering and phishing. Social engineering attacks, such as phishing, involve tricking people into giving up confidential…
