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Each week on “I’m a Millionaire, So Now What?”, Colleen O’Connell-Campbell, Wealth Advisor at RBC Dominion Securities, delivers inspirational stories and practical advice to self-made millionaires and wealthy families. With a focus on financial planning and wealth management strategies, Colleen and her guests cover the critical issues that truly matter to you, including succession strategies, family business governance tips, how to cope with fundraiser fatigue, finding your purpose after losing your family business, and much more.

Nov 5, 2019


Cybercrime is a very real threat to wealthy individuals and their businesses. Not only is your personal data at risk but also the data of your employees and your organization’s customers. Cyberattacks and ransomware attacks are increasing and exploiting weaknesses such as the Internet of Things (IoT), cybercrime awareness, and insufficient training.


Today, I share the true cost of ignoring cybersecurity to the self-made nation, which could result in going out of business. I highlight how large numbers of companies still don’t have a dedicated cyber resource and the high value of fines introduced in recent privacy regulations. I also discuss the cost to the economy from cybercrime and how small to medium-sized enterprises are risking their existence by ignoring the rising number of cyber threats.




“Anyone and everyone is a target.” - Colleen O’Connell-Campbell




Today on I’m A Millionaire...So, Now What:


  • Why 30% of Canadian businesses don't have a dedicated cyber resource.
  • The fines and changes to privacy regulations.
  • How ransomware was a 10-billion dollar industry in 2018.
  • The cost of cybercrime to the US economy.
  • How small to medium-sized businesses are at risk of going out of business due to cybercrimes.


Key takeaways from the cybersecurity series:


  1. It is not a question of if, it is a question of when.
  2. Put safeguards in place and create unique passwords.
  3. Tap into two-factor authentication.
  4. Look to professional services where necessary.
  5. Continuously educate yourself, your team, and your suppliers.




Resources Mentioned:






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