Springfords LLP blog

Some news, views and comments about everything and anything, relevant and irreverent.

Super Rich Selfies

22 April 2016

It’s hardly a new phenomenon, but the Daily Telegraph recently picked up on how the next generation of privileged offspring are witlessly putting their families at risk with social media posts that leave heads of private security collectively chewing the carpet in frustration. 

Of course, you don’t have to be super-rich to be super-silly with your social media.  A quick ‘here we all are in Benidorm’ might as well be captioned ‘there’s nobody home in Bathgate, it’s all yours, local criminals’.

While we all take a little more care with our holiday postings, basic home security isn’t the worse excess of the minted and dim witted.

Unable to keep their diamond-encrusted smart phones in their somewhat less than intelligent pockets, the cash-rich, brain-poor offspring of the overloaded have been attempting to out-bling each other with ever more lavish postings of their ever more lavish lifestyles.

Unfortunately, it’s not just their equally air-headed peers who’ve been taking an envious interest.

Criminals keeping tabs on the family movements have been finding the ‘follow’ button very useful.  Reporting your movements to all and sundry?  Don’t be surprised if all and sundry catch up with you when you least expect it.  Try explaining that away to mummy and daddy, when you’re all banged up in a basement in Bangkok, waiting for the ransom demand to be paid (other hostage situation locations are available).

Debt collectors too have found fun and fortune in swiping right on the social media pages of the rich and not-so-famous.  The Telegraph reported that about three-quarters of debt recovery cases now involve an element of social media investigation.  “What, no assets?  Well, the driver of that Bentley looks suspiciously like your university drop-out offspring, doesn’t it?”

Plus social media is the next  line of enquiry up the sleeves of tax authorities around the world.  If your balance sheet runs to a significantly spectacular multiple of your tax return, chances are someone is thinking about surreptitiously following you for less than friendly reasons.

At Springfords, you can rest assured we will not be stalking you on social media.  However we’re  not the sorts to let conspicuous displays of bling go unchallenged if it might be challenged by HMRC.  We’ll help keep you in the picture, not get your picture in the papers.

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springfords blog

Some news, views and comments about everything and anything, relevant and irreverent.

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