Cybercriminals target wealthy individuals, Everywhen warns

Everywhen has warned that cybercriminals are increasingly targeting high-net-worth individuals, arguing that affluent people are often easier to infiltrate electronically than businesses.

The warning reflects a shift by attackers away from heavily defended corporate networks and towards private individuals, whose wealth, public profile and personal data can make them attractive targets. Risks range from suspicious login attempts to full-scale data breaches, with potential consequences including theft and reputational harm.

Darren Walsgrove, Personal Lines Director at Everywhen, said wealthy individuals face broader exposure as their visibility grows. "For these individuals, it's not just their wealth on the line, it's their reputation and personal data. As a high-net-worth individual's influence and public exposure grows, they become more of a target," he said.

Social media is a central concern. Posts about travel, expensive possessions or daily routines can build a detailed picture of when a home may be empty and what assets may be inside. Activity by children or other family members can also undermine privacy, even if the main account holder avoids public platforms.

Digital footprint

That online trail is also relevant to insurers assessing risk. Underwriters and private client executives may review a prospective policyholder's public presence to determine whether they have disclosed details that could increase the chance of loss.

"In my experience, private client executives and underwriters often look at someone's online presence when offering a quote. They'll check whether photos of valuable items have been posted, holiday updates shared, or anything that reveals that the home is empty. It's a simple step, but it shows just how much someone's digital footprint can influence their overall risk.

"They may also check if a potential client has publicised any views that could incite a problem. They could be political, racial or something else. When it comes to insurance, being outspoken on social media may not induce a good rating factor and can attract the wrong kind of attention," Walsgrove said.

Public exposure can create risks beyond online account intrusion. Criminals can use information from posts and public profiles to plan home thefts, while deepfake tools can be used for impersonation and fraud. For people with a high profile in business, media or public life, the damage can extend beyond finances to reputation.

The warning comes as the financial sector has strengthened its response to digital fraud. Banks and regulators in several markets have taken a more active role in reimbursing victims, while policymakers have discouraged ransom payments and placed greater emphasis on resilience and prevention.

Smart homes

Everywhen also pointed to the spread of connected home devices as another vulnerability for wealthy households. Systems used to manage cameras, lighting, heating and alarms can provide convenience, but if compromised they may also give intruders a way to disable security measures, unlock doors or access video feeds.

The UK has introduced rules for consumer smart devices under the Product Security and Telecommunications Infrastructure regime. The framework bars manufacturers from shipping products with easily guessed default passwords, requires users to create unique credentials and obliges manufacturers to state minimum periods for firmware updates.

Even so, conventional burglary risks remain significant. In many cases, claims still arise from lapses in basic household security rather than advanced cyber intrusion, particularly when alarm systems are not set at night or when young family members are left home alone.

Walsgrove said these simpler vulnerabilities should not be overlooked amid growing concern about cyber threats. "Many burglaries occur while clients are actually at home and no security has been set, whether that's when everyone is asleep, or when a young person is left home alone. Social media does not need to know your family's timetable," he said.