Cybercrime is Thriving - Here's How Your Firm Can Stay Safe in 2022
A recent report from Cybercrime Magazine suggested that cybercrime could cost the world $10.5 trillion each year by 2025 – this is up from $6 trillion in 2020. Not only are attacks becoming more frequent, but they are also becoming more sophisticated, and therefore, more successful.
Law firms are a prime target of cybercriminals due to the vast amount of sensitive information that they hold. So, how can your firm protect itself from the ever-increasing number of cyberthreats? We compiled five of our top recommendations to keep your firm secure.
1. Email security and monitoring
Over 7 billion users globally send and receive 333.2 billion emails a day. Such a staggering user base means that email is the number one threat route for cybercriminals, and it is vital that you keep it protected.
Email security solutions act as a firewall for your communications, enabling you to set rules about which emails can be received or sent from your email networks, meaning that you are able to eliminate unwanted or unsafe emails before they can reach your server. Having this kind of protection in place helps to ensure that all communications and the information within them stays confidential as well as helping to avoid data leaks that may occur from a phishing attack or even human error.
2. Invest in endpoint detection and response (EDR)
According to a report from the IDC (2019), 70% of successful breaches start on endpoint devices, such as laptops, mobile phones, and desktops. Because of the ever-increasing number of endpoints on modern networks, it’s becoming increasingly difficult to fight against advanced attacks that enter through these devices – traditional antivirus software is no longer enough.
Endpoint Detection and Response can be a big advantage for law firms and the security they can provide for the wider business, clients, and data.
3. Turn on multi-factor authentication (MFA)
Password theft is common, and the legal sector is a prime target. While it should be ensured that your end-users follow best practices for passwords, such as varying them from account to account, and using passphrases, you cannot rely on them as the only form of authentication for users logging into systems.
Multi-factor authentication (MFA) requires the user to verify themselves and confirm the log-in attempt, which provides a second layer of security, preventing unauthorised users to gain access to your systems.
4. Provide regular company-wide cybersecurity training
Cybersecurity is not only the responsibility of your IT department – everyone in your legal practice should have a general level of knowledge.
According to a report from the SRA (Solicitors Regulation Authority), of the senior members surveyed, over 50% said they understood the terms ‘phishing’, ‘ransomware’ and ‘malware’. However, of the fee earners, 55% said they did not understand the term ransomware or virus.
There is an undeniable link between basic cybersecurity knowledge and the mitigation of breaches – it is vital that your end users undergo continuous training to keep abreast of the ever-evolving threat landscape.
5. Partner with a specialist Managed Service Provider (MSP)
Working with a legal specialist gives you the reassurance that they are experienced in dealing with the unique auditing and compliance requirements of the legal sector, in addition to the non-sector specific, yet just as significant, regulations such as GDPR.
Additionally, they should also cover a range of specialised and accredited services such as ISO 27001 and Cyber Essentials PLUS, to ensure that you achieve your objectives. Your IT partner should understand and appreciate the plethora of processes legal firms work through daily to provide a tailored service to your firm.
