A report issued earlier this year found law firms are alarmingly unprepared for most types of cyber threats. Of the 200 law firms surveyed, two-thirds reported they have been a victim of some sort of cyber breach. Additionally, 77 percent of respondents confirm they don’t have cyber insurance, and a shocking 95 percent are noncompliant with their own cyber policies. The legal industry scored a 29.6 out of 100 on security readiness; if this isn’t a cause for concern, what is?
Law firms host a treasure trove of valuable intellectual property (IP) for their clients. Be it an AutoCAD drawing, directions for a client’s “secret sauce,” or pharma clinical trial results, legal ethic rules require attorneys to take reasonable measures to keep all client information safe. As the number and scope of security breaches continue to rise, law firms must be sure they are prepared for the evolving cybersecurity landscape and that they are meeting changing regulatory requirements such as PCI-DSS, FFIEC and soon, GDPR.
