February 19, 2025

Cyberattacks on financial institutions are hardly rare these days, yet few entities shoulder as much risk as family offices tasked with safeguarding ultra-high-net-worth (UHNW) clients. IBM Security’s “Cost of a Data Breach” report places the global average expense of a breach at $4.45 million, noting that incursions into financial services typically run almost 10 percent higher than those in other sectors.