Cyber Fraud Prevention Guidance for Mid-sized to Large Law Firms
Given the confidential, personal data law firms are entrusted with, it makes sense that there has been a sharp uptick in law firm cybersecurity threats. Notwithstanding of the area of practice, law firms manage a vast array of critical client information, valuable intellectual property, sensitive business information, and other proprietary data. As the legal industry adopts remote and hybrid work models, cybersecurity is a top priority for law firms. In 2020, the American Bar Association discovered that 29% of surveyed law firms faced some form of cyberattack, a 3% increase over 2019. Regrettably, only 34% of those surveyed had developed an ironclad law firm cybersecurity policy as an integral part of their law firm management.
Prevent Law Firm Cybersecurity Threats
Cybersecurity is advancing rapidly. It’s no longer mitigated reserved for technology, but it’s now one of the highest security risks a law firm can encounter. Recently, prominent law firms in the United States have been targeted by major cybersecurity breaches that cost millions. Law firm cyber security training is not merely relegated to the IT department, or for mid-sized firms, a risk that isn’t worth focusing on. It needs to be a fundamental component of the general guidelines for using technology in the firm.
Cybersecurity is a massive initiative, and some firms aren’t equipped with a state-of-the-art IT team to safeguard their files. Medium and large firms might postpone preparing for cyber-attacks, due to the exorbitant expense, or they presume it won’t happen to them.
Generally, law firms have chiefly been analog until recently. Lawyers and staff tracked client and firm information manually, reducing the risk of a cyber breach. Firms are adapting to digital records, and clients demand more technologically advanced communications and approaches — meaning that law firms are extremely susceptible to the risk of a cyberattack that previously wasn’t a concern.
Back Up Essential Data
Data and IP are essential to law firm operations. Attackers often install malicious software, also known as ransomware, to block access to computers or the data saved on hard drives, demanding for a ransom in exchange for the data. This is a major concern for law firms since just one ransomware attack could render huge amounts of data inaccessible.
With regular backups, however, a ransomware attack isn’t as catastrophic. Critical data is copied and stored on an external hard drive or a secure location that’s separate from the network, ensuring the information is still accessible and safe during a cyberattack. This also significantly decreases interruptions a law firm may encounter from an attack.
Frequent Cybersecurity Updates and Patches
Cyber attackers are highly skilled at circumventing cyber security defenses. Software and operating systems that haven’t received regular updates offer cyberattackers entrance points to exploit vulnerabilities and gain widespread access to the system data.
Software updates are performed frequently to optimize performance or fix a bug, but they provide the additional benefit of fortifying cyber security. Patches are a bit different and are meant to fix security vulnerabilities and should always be applied immediately when they are available.
With legal management software through a provider, software updates and patches are applied as needed, keeping security in a law firm’s network brassbound.
Two-factor Authentication
Strong, complex passwords are a brilliant deterrent to thwart a cyberattack; two-factor authentication (2FA), is the best option for remote law firm management — this added security measure prevents full access to accounts and sensitive information and data pertaining to the business or clients. 2FA a security protection that requires two separate, forms of identification to gain access. The first factor is a password and the second usually includes a text with a code sent to your smartphone, or biometrics using your fingerprint, face, or retina.
Regrettably, law firms frequently have integrations with services and systems such as DocuSign and Dropbox. If just one of these systems is compromised, an attacker could gain access to essential, confidential information.
Law firm staff should use strong passwords that contain upper and lowercase letters, numbers, symbols, or phrases that are difficult to figure out. When staff members depend on weak, easy-to-recall passwords, specifically for multiple accounts, it’s easier for attackers to see which other accounts they can gain control of with just one password.
Moreover, legal practice management enables law firms to configure various users for specified access. All functions can be configured with unique user permissions and customizable user access. Contractors can have temporary access, and law firms can track logins automatically and act accordingly anyone is using their credentials inappropriately.
Virtual and Physical Precautionary Measures
Data is not only susceptible to attackers — it is also susceptible to external circumstances such as natural disasters and power outages. When these occur, valuable data can become unsalvageable or exposed.
Legal management software uses data centers that are geographically distributed to mitigate the effects of local interruptions. They also use redundant power systems and environmental controls to deliver 24/7 uninterrupted service. If service or upgrades are required, the law firm encounters negligible downtime or disruption.
Cybersecurity Knowledge
Lawyers are highly skilled at practicing law, but they lack the necessary knowledge for enforcing cybersecurity. Ideally, mid-sized to large law firms should hire cybersecurity experts who are familiar with legal practice management software protocols and procedures.
Software providers work with trusted third-party data security leaders to surpass security standards, including implementing policies and practices for world-class information security. This includes possible threats, how to react, and device weak points in desktop computers, smartphones, laptops, removable data storage and security cameras.
Legal Practice Management Software Can Reduce Law Firm Cybersecurity Threats
Legal practice management software provides several benefits for a law firm, but the main benefit is cybersecurity protection. Threats are pervasive and increasing as firms add more users and technology, but understanding the threats and implementing the right software solution can protect law firms from malicious cybersecurity threats.
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