Cybercriminals are increasingly using artificial intelligence, social engineering, and highly personalized tactics to target wealthy individuals and families.
While many scams cast a wide net, attacks against high-net-worth families are often highly tailored. Criminals may gather information from social media, public records, charitable involvement, business activities, and professional networks to create convincing stories designed to earn trust. At the same time, artificial intelligence (AI) is making it easier for criminals to launch sophisticated attacks.
Although scams vary, many share common warning signs.
Be cautious of unexpected requests involving money, sensitive information, passwords, or account access. Urgent demands that require immediate action should always be viewed carefully, particularly if normal verification procedures are discouraged.
Other warning signs include offers that seem too good to be true, requests for payment through cryptocurrency, wire transfers, gift cards, and communications that don't align with the sender's typical behavior or communication style.
While tactics continue to evolve, several scams have become particularly prevalent.
Strong cybersecurity begins with everyday habits.
Don’t have an advisor?
Wells Fargo provides information related to cyber risk and/or other related topics for awareness purposes only. Wells Fargo does not provide cyber-related advice or consulting services and customers and clients should decide whether to engage a cybersecurity firm for specific questions or advice. It is the responsibility of our customers and clients to comply with all laws applicable to it and determine their best approach for mitigating cybersecurity risk through implementation of best practice aligned to the level of risk.
