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FEATURED ARTICLE
Cybersecurity: How family office advisors are working to strengthen the ‘human firewall’
Against a seeming tidal wave of cyber criminality, family office advisors are taking action to fortify their defences.
Edmonton-based North Road Investment Counsel, for one, saw its clients struggling. Today they offer cyber counselling services directly to clients who may not recognize their own vulnerabilities. "Most of our clients are retired professionals,” says Misha Niemtsev. “It’s often hard to convince them that the risk is real until I do an assessment with them. I start asking questions and it takes about five to 10 minutes for the energy to shift where they catch on that they’re not experts in this field.”
This article is part of our June special report on digital risk in family offices. It was also our most popular article of the week.
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MEMBER CONTENT
Why family offices should care about fraud
Fraud is more complex, sophisticated and pervasive than ever. No one is immune – including Canada’s ultra-high-net-worth families. At Foster Family Office, fraud is part of risk management. The best defence: knowledge and awareness.
Fraud–and investment fraud in particular–is one of the fastest-growing crimes in Canada. Data from the Canadian Anti-Fraud Centre (CAFC) shows that between 2022 and 2025, Canadians lost more than $2.4 billion to scammers. In 2025 alone, Canadians lost $704 million, up more than 300 per cent from 2020. But with only between five per cent and 10 per cent of frauds reported, these losses represent a fraction of the impact.
Canada is not alone. Interpol’s 2026 Global Financial Fraud Threat Assessment calls financial fraud one of the world’s most severe and rapidly changing transnational crimes. Criminal networks are collaborating with money laundering groups to scale operations globally. They’re using artificial intelligence to plan and execute schemes to steal personal information and money.
This article is brought to you by Foster Family Office.
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