Family offices need to strengthen cyber risk defence, survey shows

• Around a fifth of family offices don't have any defences against a potential cybersecurity attack

• Global study reveals almost three-quarters predict the levels of outsourcing around cybersecurity to increase over the next three years

New global research* from Ocorian, the specialist global provider of services for asset managers and owners, including private client, fund administration, capital markets, corporate and regulatory solutions, shows that many family offices are putting themselves at greater risk of a potential cyber attack and don’t have plans in place to recover if they are hit.

It’s estimated that 43% of family offices globally have suffered a cyber attack in the past two years but Ocorian’s study among family members and senior family office employees handling total wealth of $119.37 billion shows almost a fifth (19%) don’t have any defence plans in place to protect themselves from a potential attack. However, 18% of them say that they do plan to put one in place.

This compares to three-quarters (75%) of respondents who have taken steps to strengthen their defences against a potential cyber attack in the past two years. Just 7% say they had plans in place more than two years ago.

Should they suffer a cyber attack, more than a fifth (22%) of those surveyed say they don’t currently have an incident plan in place to respond and recover. Around 78% say they do have an incident plan ready.

More than one in 10 (11%) family offices surveyed admit that they feel significantly challenged when it comes to delivering the level and quality of cybersecurity expertise they need to operate effectively. Almost half (49%) say they currently receive advice and support from third-party professionals over cyber security, but this is set to significantly increase, with 72% saying they see the levels of outsourcing around cyber security to increase over the next three years. Of these, 41% say they expect a dramatic increase.

Ian Rumens, Head of Private Client – Jersey, at Ocorian, said: “A cybersecurity attack is becoming an increasing reality and can have huge implications for family offices, damaging reputations, triggering loss of stakeholder confidence and putting long-term relationships at risk. While many are taking steps to put the necessary precautions and defences in place, such as getting expert third-party advice, there are still too many who are highly susceptible.

The financial impact can also be significant, from direct theft and fraud to business interruption, incident response costs, regulatory fines and potential litigation. It’s also vital that family offices work closely with all their service providers and suppliers to make sure those partners have the right protections in place too, helping reduce the risk of a cyber incident spreading through the wider ecosystem.

Finally, organisations should ensure strong backup and recovery arrangements are tested regularly to help protect against data loss or corruption, so critical records and reporting can be restored quickly and accurately. On top of this, with no incident plan in place, it could also take those affected by an attack much longer to respond and recover afterwards.”

Ocorian’s award-winning, dedicated family office team provides a seamless and holistic approach to the challenges and opportunities families face. Its service is built on long-term personal relationships that are founded on a deep understanding of what matters to family office clients. Its global presence means Ocorian can provide bespoke structures and services for international families, no matter where they live.

Key services include formation and administration of family offices, HR support services, support with lifestyle and luxury assets, family governance, resident and relocation services and specialist support with immigration, visas, payroll, marine and aircraft crew management and financial reporting.

About Ocorian

Ocorian is a global leader in fund services, corporate and trust services, capital markets, and regulatory and compliance support.

Unlocking new value for its clients across jurisdictions and service lines is Ocorian’s priority; it manages over 20,000 structures on behalf of 9,000+ clients, including financial institutions, large-scale international organisations, and high-net-worth individuals.

Ocorian provides fully compliant, tailored solutions that are individual to clients’ needs, no matter where in the world they hold financial interests, or however they are structured.

The group offers a full suite of corporate, fund and private client services across a network of offices spanning all the world’s financial hubs. Locations include Bermuda, BVI, Cayman, Denmark, Finland, Germany, Guernsey, Hong Kong, Ireland, Isle of Man, Jersey, Luxembourg, Mauritius, Netherlands, Norway, Singapore, Sweden, UAE, the UK, and the U.S. 

To find out more about Ocorian and its services, including regulatory information, visit www.ocorian.com
 

Please note that this press release is intended to provide a very general overview of the matters to which it relates and is provided for your convenience. It is not intended as legal or investment advice and should not be relied on as such.

*In February 2026, Ocorian commissioned independent research company PureProfile to interview 200 people in the family office sector, including family members and full-time employees of family offices. The total value of wealth managed or owned by the families was $119.37 billion and respondents were based in the UK, Switzerland, Mauritius, South Africa, India, Hong Kong, Singapore, Taiwan, UAE, Saudi Arabia, Bahrain, the U.S., Jersey, Guernsey, Bermuda and Cayman.