Tarina Vlok, MD of Elite Risk

High-net-worth individuals linked to luxury brands are increasingly vulnerable to data breaches and digital fraud

From Dior to Cartier, some of the world’s largest luxury brands have recently fallen prey to cybercrime, resulting in widespread data leaks that have put their wealthy clientele at risk.

“Affluent individuals tend to have a more complex and extensive digital footprint than many,” explains Vlok. “From online banking and investments to exclusive shopping, travel bookings, and private communications – all these digital touchpoints create more entry points for criminals.”

More data, more danger

Recent cyberattacks on global brands like The North Face, Dior, and Cartier exposed the sensitive data of thousands of high-net-worth customers, including names, emails, and purchase histories. In some cases, like that of popular UK chain Marks & Spencer (M&S) in which a ransomware attack wiped out nearly one-third of annual profits, huge financial losses are incurred by companies due to attacks.

“If your name is associated with a brand VIP programme, you could be flagged as someone worth targeting,” says Vlok.

She adds that luxury membership programmes offer exclusive access to rewards, benefits, and experiences, with members advancing through different tiers based on their spending and purchase frequency. And even if you are not part of a VIP programme, your data could still be at risk, as luxury brands gather deep and sensitive customer information – names, email addresses, purchase histories, membership details, and even biometric or profile data, making them high-yield targets for cybercriminals, especially when wealthy customers are involved.

Louis Vuitton South Africa also alerted its customer base in July this year that it suffered ‘unauthorized access’ to its system, in which its customers’ personal data was obtained by a ‘malicious actor’, including names, genders, email addresses, purchases and preference data and more.

South Africa a top spot for cybercrime

And, according to Vlok, affluent individuals in South Africa may increasingly become targets: According to Interpol’s recently released Africa Cyberthreat Assessment Report 2025, South Africa is the second-most targeted nation in Africa after Egypt, and it highlights a rise in ransomware detections in 2024.

“There are plenty of scams that can make a victim of anyone, regardless of your wealth status,” says Vlok.

The South African Revenue Service also recently cautioned the public against scams involving fake refund audit messages, which is especially relevant as the 2025 tax season kicks off this month.

“A common scam is when fraudsters impersonate delivery companies or service providers, claiming you owe them money before delivery of a mystery parcel takes place,” says Vlok. “These are highly convincing scams that prey on individuals.”

Insurance isn’t a silver bullet

Vlok says that while high-net-worth individuals often trust brands and service providers to manage their data securely, it must be remembered that conventional insurance typically doesn’t cover losses stemming from cybercrime.

“It is also important to remember that financial institutions such as banks require customers to be compliant with specific terms. If they are in breach, then insurance claims for stolen funds or fraudulent card use are likely to be rejected,” says Vlok.

She says it’s important for policyholders to understand how they can protect themselves against data breaches.

“We help our clients understand how to prevent a loss in the first place,” says Vlok, adding that Elite Risk stores client data securely in full compliance with South Africa’s Protection of Personal Information Act (POPIA), and other regulations.

“In this day and age, protecting your assets also means protecting your identity,” says Vlok. “Affluence shouldn’t come at the cost of privacy.”

If you are HNWI, here are Vlok’s top five tips for protecting your digital footprint:

1. Understand your online exposure, especially for travel and lifestyle services. Your digital footprint includes everything from social media activity to luxury e-commerce accounts and travel logs. “Be aware of what you’re sharing – even a photo can contain metadata, like your location,” Vlok warns. Use a concierge service with cybersecurity protocols, that is, when booking luxury travel or experiences, confirm their vendors are POPIA/GDPR compliant.

2. Strengthen your security for your financial transactions and wealth management: “Use two-factor authentication for all critical accounts. Never click on links from unknown senders. Check email addresses closely – cybercriminals often mimic trusted brands.”

3. Be wary of impersonation. “If someone calls or emails you pretending to be from a delivery company, bank, or luxury brand, verify their identity first. Fraudsters use emotional manipulation and urgency to trick you.”

4. Extend cyber safety to your household. “Children, domestic workers, or family members with access to shared devices or passwords can be targeted, making family-wide awareness and protection essential.” In addition, Limit who has access to your financial accounts. Shared assistants, family office employees, or advisors must follow strict access protocols and use secure devices.

5. Philanthropy, venture Investing and online giving: Verify digital donation platforms and always vet causes, and use verified payment methods when supporting initiatives online. “Publicly sharing philanthropic contributions may increase your visibility to hackers and scammers. Keep private what you can,” says Vlok.