Cybercrime is a thriving industry, and it has devastating consequences. Nearly one-in-three Americans has been the victim of online financial fraud or cybercrime, according to a 2023 Ipsos survey, with nearly $16.6 billion in losses reported to the FBI\u2019s Internet Crime Complaint Center (IC3) in 2024 alone.<\/p>\n\n\n\n
While no one is immune to cybercrime in today\u2019s digital age, wealthy families are especially susceptible to online attacks.<\/p>\n\n\n\n
\u201cHigh-net-worth (HNW) and ultra-high-net-worth (UHNW) clients are prime targets for cybercriminals because the potential losses are significant,\u201d says Charles Laugen, senior manager of Client Risk Prevention at RBC Wealth Management\u2013U.S. \u201cTrue wealth protection for these families requires robust cybersecurity measures<\/a> to safeguard their sensitive information and assets.\u201d<\/p>\n\n\n\n The businesses that support them are also at risk. Nearly three quarters of family offices in North America have experienced a cyberattack in the past year, according to the 2025 North America Family Office Report<\/a> by RBC and Campden Wealth.<\/p>\n\n\n\n As cybersecurity threats continue to evolve, it\u2019s essential to understand common cybercrime tactics and take proactive steps to protect your safety, privacy and legacy.<\/p>\n\n\n\n Hackers are getting stronger, ramping up the volume of cyberattacks and using increasingly advanced tactics to evade detection and maximize impact. Evolving technology and artificial intelligence (AI) provide even more opportunities for deception, making it harder to tell what\u2019s real and what’s fake.<\/p>\n\n\n\n \u201cWhile HNW and UHNW individuals are becoming savvier about cybersecurity, technology is also morphing faster than many people can keep up with,\u201d says Bill Ringham, director of Private Wealth Strategies at RBC Wealth Management\u2013U.S. \u201cA cybercriminal is no longer someone sitting in a cyber caf\u00e9 trying to get access to your home internet. Today, the more sophisticated operations are run by organized crime groups.\u201d<\/p>\n\n\n\n These groups are using elaborate techniques and tools to attack wealthy people, their families and family offices. When successful, the crimes can result not only in financial loss but also reputational damage.<\/p>\n\n\n\n Cybercrime might start or finish online, but it rarely takes place completely in cyberspace.<\/p>\n\n\n\n \u201cA lot of cybercrime still relies heavily on exploiting human vulnerabilities,\u201d Laugen says. \u201cThe most significant losses I\u2019ve seen have occurred when clients\u2014or their family members or advisors\u2014have been tricked by fraudsters. The human element is still essential for these criminals to succeed, as they often focus on persuading someone to share access codes, investment account details, or to authorize fraudulent wire transfers, rather than hacking into secure financial systems directly.\u201d<\/p>\n\n\n\n Some of the most common cybercrime tactics include:<\/p>\n\n\n\nCybercrime is becoming more sophisticated<\/strong><\/h2>\n\n\n\n
Common cyberattack strategies<\/strong><\/h2>\n\n\n\n
\n
How to protect yourself online<\/strong><\/h2>\n\n\n\n