The low-profile and discreet nature of family offices should not be presumed to shield against potential threats, a white paper has warned.

Boston Private, a provider of wealth management, trust and banking services, released a report, Demystifying Risk Management for Family Offices, which examines the risks family offices face and aims to offer a framework for protecting against such risks.

The white paper explores a list of risks that family offices face, including: cybersecurity breaches that now plague organisations; identity theft schemes against prominent individuals; fraud perpetuated by unvetted ‘insi...