Over the years, as we’ve guided families through major life transitions, we’ve seen the risks to wealth continue to evolve. Markets, taxes, and estate exposure have always been part of the plan. Today, we would add another to that list: cybersecurity.

The financial life of a high-net-worth family is more complex than ever, with multiple accounts, advisors, and transactions moving across platforms every day. Each of those touchpoints creates another potential entry point, and criminals have become increasingly effective at trying to exploit them.

The good news is that with a little awareness and a few smart habits, you can reduce your cybersecurity risk in a meaningful way.

What Makes Today’s Cyber Threats Different

Cybercriminals today are far more sophisticated than they used to be. Many scams are designed to look like they’re coming from a trusted source—your bank, your advisor, or even a government agency like the IRS or Social Security Administration.

You might receive what appears to be a routine message asking you to verify a transaction, reset your password, or review recent account activity. These messages often look legitimate, with familiar logos, formatting, and tone. In reality, they may be fake and designed to capture your login information.

Artificial intelligence is making these scams even more convincing. Fraudsters can now:

• Write highly personalized emails that sound natural and professional
• Mimic the tone or writing style of institutions or people you know
• Clone voices to create realistic phone calls from a “family member” or trusted contact
• Generate convincing fake websites in seconds

Because of this, it’s becoming harder to rely on instinct alone. Something that looks and sounds real may still be fraudulent.

If login information is entered or trust is gained, scammers may quickly access your accounts, change settings, or attempt to transfer money.

Why High-Net-Worth Families Are Targeted

Cybercriminals tend to go where the opportunity is. Larger account balances and more complex financial lives can make high-net-worth individuals more attractive targets.

It’s not just about the size of your assets. It’s also about access. Managing multiple accounts, making frequent transactions, communicating with several advisors, and using digital tools across devices are all part of a modern financial life. At the same time, each of these creates another point where something could go wrong if not handled carefully.

What to Watch For

While scams continue to evolve, many follow familiar patterns. Messages that create a sense of urgency, especially those pushing you to act quickly, are often designed to override your better judgment. Links that direct you to login pages may look real but can lead to fraudulent sites built to capture your information.

There are a few specific warning signs that are worth keeping in mind:

• Unexpected messages asking you to log in or verify information
• Requests for personal or financial details via email or text
• Messages that feel urgent or pressure you to act quickly
• Calls or texts that seem personal but are slightly unusual

It’s also important to remember that legitimate institutions will never ask for your sensitive personal or financial details through unsecure email or text.

Another growing concern is impersonation. With the help of AI, messages or calls you receive may sound highly personal and convincing. We’ve seen cases where scammers pose as a family member or colleague and request urgent financial help. Even when a message appears to come from someone you know, it’s always worth confirming through a separate conversation with that person directly.

Simple Ways to Protect Yourself

Cybersecurity does not need to be complicated. A few consistent habits can go a long way.

• Avoid clicking on links or downloading attachments from unexpected texts or emails
• Go directly to websites by typing the URL address into your browser
• Use official mobile apps for secure account access whenever possible
• Verify anything unusual by calling a trusted phone number
• Confirm urgent financial requests, even if they appear to come from someone you know

These steps are simple, but they are very effective when used consistently.

How to Protect Yourself Day to Day

Think of cybersecurity as another way to protect your financial life, just like diversification or insurance. It doesn’t require major changes, just a few thoughtful steps built into your daily routine.

A few additional safeguards can help strengthen your protection:

• Turn on two-factor authentication for your accounts
• Use strong, unique passwords or passkeys across platforms
• Keep your devices and apps updated

If you receive a suspicious message, the best approach is not to engage. Take a screenshot and share it with your wealth advisor or financial institution so it can be reviewed. If you’ve already clicked on a link or shared confidential information, reaching out right away can help limit any potential impact on your accounts.

Staying One Step Ahead

Cyber threats are part of today’s environment, and tools like AI are making them more convincing. But with awareness and a few simple habits, they are very manageable.

If something feels even slightly off, it’s always worth pausing and making the call. A quick two-minute check has saved our clients real money and real heartache more times than we can count.

If you’d like us to review the safeguards around your accounts, or you have a specific situation you’re unsure about, please contact us. At JJ Burns & Company, we’re here to help you stay one step ahead and protect what matters most.

cybersecurity fraud prevention