When it comes to cyber attacks, law firms are a prime target. According to the 2019 ABA Cybersecurity Tech Report, 26% of law firms experienced a form of a data breach. You don’t want your law firm to become another statistic. Law firms are targeted because they usually have sensitive client data which can include financial information that can be very valuable for criminals.
In addition, law firms are often seen as being easy targets, due to their lack of cybersecurity measures. That is why it is imperative that law firms take a proactive approach to protect themselves and their clients from the ever-increasing threat of cybercrime.
5 Reasons Why Law Firms Must Take Cybersecurity Seriously
1. Client Privacy
Ethically, it’s your duty to protect client data and to disclose your error if a breach does occur. Your law firm should take reasonable measures to protect your client’s confidential information. Ensuring that you have the proper measures in place to protect your clients saves your business from expensive costs caused by cyber-attacks, loss of reputation, and possibly your firm’s possibility to remain in practice.
2. Increasing Cyber Attacks
As we previously mentioned Law Firms are under attack and having a cybersecurity plan in place helps shield your firm from cyber attacks. Even if your law firm is small, you’re at a huge risk of a cyberattack that can easily put you out of business.
With the ever-increasing rate of cyberattacks, your firm should be aware of the specific threats they face and how to avoid becoming a victim of cybercrime. Some common types of attacks cybercriminals use against law firms include:
- Phishing emails: These are emails that appear to be from a legitimate source, but contain malicious links or attachments.
- Malware: This is software that is designed to damage or disable computers. It can be installed on your system without your knowledge and can cause serious harm.
- Ransomware: This is a type of malware that encrypts your data and demands a ransom to decrypt it.
- Denial of service attacks: These are designed to make your website or email unavailable by flooding it with traffic or requests.
3. Your Firm’s Reputation
Your law firm’s reputation is another reason to take cybersecurity seriously. If your systems are hacked and client data is exposed, it will not only damage your relationship with that client, but it could also damage your law firm’s reputation as a whole. This could lead to a loss of clients and revenue for your law firm.
4. Compliance Regulations
Another reason law firms must take cybersecurity seriously is because of compliance. There are a number of laws and regulations that require law firms to take measures to protect client data. If your law firm doesn’t comply with these laws and regulations, you could face heavy fines.
5. Financial Loss
Finally, law firm cybersecurity is crucial for avoiding financial loss. If your systems are hacked and client data is exposed, you could be liable for the costs of repairing the damage, as well as any legal fees that may be incurred. In addition, your law firm could lose clients and revenue if your reputation is damaged.
Praxis Provides Law Firms Comprehensive Cybersecurity Solutions
Cybersecurity is a crucial concern for all law firms, no matter how big or small they are. Taking precautions to secure themselves against cyber attacks might help prevent the devastating consequences of one.
If you’re not sure about how to get started with cybersecurity to protect your law firm, reach out to Praxis today. Our security experts can assess your systems, make security recommendations, install protection measures, and monitor your infrastructure so that you can rest easy knowing your business is protected.