How to educate family members around cybercrime

As the digital world becomes more sophisticated, so too do the risks facing wealthy families—especially when senior members hold signing authority over assets. In an article published by Canadian Family Offices, experts explore how cybercrime, social engineering, and AI-powered scams are increasingly targeting vulnerable elders. Among those providing key insight is Ray Vankrimpen, Partner at Richter Family Office, who warns that AI will only make fraud schemes more believable and dangerous. From impersonated “grandchildren in trouble” to highly targeted phishing attacks, Ray emphasizes the importance of proactively involving the whole family in digital security and governance planning.

This article outlines a range of practical strategies to help families safeguard their legacy—such as limiting access, using password management tools, and establishing open communication. As Ray aptly puts it, protecting family wealth from fraud should be treated with the same rigour as estate planning or insurance.