SAN FRANCISCO, Calif., July 1, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Privide today announced the launch of the first ever program to provide advanced cyber, identity, and privacy protection to what cybercrooks call Candy Stores. Candy Stores are higher-net-worth consumers and the wealth managers, financial advisors, and lawyers who advise them. They're now a hot target for hackers not only because they tend to have greater wealth and better credit, they also have access to a wealth of valuable information and connections that includes client and customer files, personal and business secrets, social and business contacts, intellectual property and other valuable information.
"Cybercrime has changed things for the wealthy," according to Neal O'Farrell, founder of Privide and one of the world's most experienced personal security experts. "Traditionally these consumers got a free pass on crime because they could afford to live in safer communities and pay for better security. Cybercrime has completely flipped that. Now the crooks can reach them from anywhere, they have the tools, and they have the motivation."
Cybercrooks and identity thieves are willing to invest more time targeting the affluent and their advisors because they represent the biggest payoff with the lowest risk. These consumers can expect little protection from mass-market security and identity protection services and rarely report the crime for fear of embarrassment or damage to their reputation.
Privide has addressed this unique problem by creating the first hybrid solution that includes personal and anytime access to top experts, comprehensive credit and identity monitoring for an entire family, and many more benefits:
"Consumer security as we know it is essentially dead," said Mr. O'Farrell. "Relying on antivirus software or an identity monitoring service offers little resistance to today's attackers. Privide represents a model for the future of consumer security and one we hope will one day be available to all consumers."
Professional advisors also fit the definition of Candy Stores and can be protected by Privide. Wealth managers, financial advisors, and legal advisors are increasingly being targeted because they offer a poorly-defended back door to their clients and secrets. In just the last 18 months, the FBI, FINRA, the SEC, and the American Bar Association have been alerting these firms to a significant spike in hacking attacks targeted at them.
"The favorite tactic of today's hacker is to target a weak link or back door, a strategy we've seen used with devastating consequences with the recent attacks on Target and eBay," according to Jay Opperman, former Executive Director for Customer Security and Privacy for Comcast, and an advisor to Privide. "The wealthy are a hot commodity and their advisors are often their weakest link."
Identity theft, account hijacking, and data theft are not the only risks. This group is more likely to be targeted with sophisticated spear phishing, malware, and other attacks that will fool even the most vigilant, with an expected increase in data-for-ransom attacks that will exploit the victim's fear of public embarrassment or damage to their professional reputation.
Privide membership costs $199 per month, which will cover an entire family and can be extended to protect a business or practice at no extra cost.
Privide is based in the San Francisco bay area city of Walnut Creek, America's original Cyber Secure City. The company was founded by Neal O'Farrell, one of the world's most experienced personal security experts. Neal is one of the first generation of cybersecurity entrepreneurs, coming into conflict with the NSA in the 1980s for his work in advanced telephone encryption. He is founder of the non-profit Identity Theft Council, served on the Federal Communications Commission's Cybersecurity Roundtable, and was the only security expert invited to advise the Congressionally-mandated Stock Act Panel in 2013.
Advisors to Privide include Jay Opperman, former Executive Director for Customer Security and Privacy for Comcast; and Mark Goldstein, former Senior Director for Consumer Advocacy and Privacy at AOL. For more information visit http://www.privide.com
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Privide Inc. Neal OFarrell +1 (925) 914-0248