Your Bottom Line is Impacted by Cyber Security Risks

by | Jun 25, 2018 | Useful Tech Tips | 0 comments

A digital attack on your law firm is that much more likely with each passing day.  This is certainly a sad statement to make yet it is the reality of our increasingly digital world.  The legal industry, healthcare industry and all sorts of other economic sectors are under an intense digital attack.  If your firm falls prey to a hacker, you will lose billable hours, take a reputational hit and possibly even lose clients.  The key is to fiercely advocate on behalf of clients without losing sight of the importance of safeguarding their data.


Protect Sensitive Data against Cyber Criminals

Cyber miscreants are on the prowl for all types of personal data from names and addresses to Social Security numbers, phone numbers, email addresses and so on.  Trade secrets, patent information and other intellectual property is especially valuable.  Your law firm must protect such sensitive client data to maintain your positive reputation within the community.  Furthermore, there could be regulatory implications from a digital breach.

The increase in regulation (SEC, HIPAA, GDPR) meant to protect personal information has financial and healthcare clients acting as major regulators.  The overarching aim is to ensure important personal information is well-guarded against cyber-criminals. By investing in cyber protection, firms can avoid the financial, reputational, and regulatory implications of a seemingly inevitable cyber breach.


Prepare for the Worst, Hope for the Best

Though it seems defeatist, the best way to approach protecting important data is to assume a digital attack will occur. This way, you can have multiple layers of protection in place that are updated with regularity.  It will also help to educate law firm employees about the many different unique threats to the firm’s digital presence.  Employees should understand the risks posed by these threats.  Furthermore, they should be equipped with basic skills and knowledge necessary to avoid common digital security pitfalls.


You Have the Power to Avoid a Worst Case Scenario

Imagine showing up to work after a fun-filled weekend and finding the entire system is locked by a hacker.  A ransomware attack has frozen every computer in the office.  The ransomware attacker is demanding $15,000 be paid in bitcoin cryptocurrency in order for control of the computers and network to be returned.  If you do not pay the ransom, you will have to revert to a backup version of data and hope it works.  Some clients might jump ship.  Your reputation will undoubtedly take a hit.



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