May 12, 2017//Ellen NeveuxLast Updated: November 18, 2020
Law firms are appealing targets for cybercriminals. Home to a multitude of sensitive, personal, confidential, financial information, what better place to attack in order to steal some juicy data?
You may remember that late last year, three Chinese hackers attacked some rather large US law firms who represent Wall Street banks. They were charged with conspiracy to commit insider trading, wire fraud, and computer intrusion. So, how did the trio of cybercriminals manage to steal confidential information from these legal firms’ servers and networks? According to the Fortune article, they targeted the email accounts of partners at the law firms and then bought shares based on the data they stole.
Unfortunately, these partners were the weaker link in the major law firms’ security stance, and therefore an easier target for the hackers.
Alarm bells for law firms
According to this Forbes article, law firms don’t have a very good track record at protecting themselves and their data. And The American Bar Association states that 25% of law firms with 100-500 employees have already been breached. This should be setting alarm bells off for legal firms. Hopefully, you’re asking: “Is there a way our legal firm can prevent a data breach?”
It seems some law firms are waking up and trying to combat data breaches. Earlier this year, an American Lawyer article examined email encryption adoption amongst legal firms. The rise in cybercrimes is sparking law firms to think twice about increasing their security postures.
There are certainly a few questions that should be on your security radar, let’s address them here:
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