With unfettered access to critical documents and information, law firms are an attractive target for hackers. Even when firms employ cutting-edge data security techniques, their possession of corporate data still multiplies the surface area of risk for that information. A recent survey of the Am Law 200, which tapped nearly one-third of firm CIOs for their experience, is showing the extent to which the highest grossing firms are spending to mitigate the risk associated with data security.
According to the findings of Chase Cost Management’s “What Price Peace?” survey spending on information security at Am Law 200 firms rarely exceeds 1.9 percent of gross annual revenue. Firms spent around $6.9 million on average, though the survey cautions some of that may have gone to non-cybersecurity projects.
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