Advocates handle a lot of sensitive information for their clients. This confidential information can also be a useful resource if it falls into the opposite party's hands. Thus, a hard drive cannot be a safe place to store case-related information. The number of cyber threats, such as ransomware, viruses, and hacking, has also risen sharply in recent times.
From intellectual property to other digital assets like trade secrets, a law firm is a treasure trove for hackers. Although it can seem expensive, law firms do well to invest in data security for their clients. There are a handful of risks that can be prevented through innovations. Hence, the proper application of preventive cybersecurity measures is the only way forward.
Information Ransom In the last few years, there have been increasing numbers of data security breaches and threats worldwide. According to the American Bar Association (2019)Survey, 26% of law firms encountered at least one cybercrime.
Insider Trading 96% of IT companies believe their information and legal software are at risk from cybersecurity threats. Workers and third parties are responsible for insider trading. This issue is more alarming as insiders are aware of the ins and outs of the company’s security system. Attacks from within the enterprise can be in any form: # Espionage # Hacktivism # Personal Gain # Sabotage
Cyber Attack There are as many as 7 companies that have suffered cyber attacks in 2020. Hackers planted malware by hijacking clients' credentials. This way, they easily gathered personal information from the law firm’s clients by hacking the companies' servers.
Data Breaches Data breaches often occur when hackers crack passwords and other secret codes. This method then becomes an easy gateway for stealing personal information.
Why Does Data Security Matter?
The growth of cyber threats should be reason enough to step up security services in law firms. It then becomes necessary to ensure that user information and documents are safe and protected. According to the American Bar Association Survey Report, 30.7% of law firms and 62.8% of Big Law firms reported having received security services for various clients. Having an updated security and a robust cyber space infrastructure are critical to any law firm that seeks to grow and expand
How to provide complete security?
The following are some operations that can aid law firms in providing proper security services:
Performing Background Checks: Whenever a new person is hired, the company should check the candidate's previous experience, resume, and professional background, and conduct background checks.
Identifying Sensitive Data: Companies have to review multiple applications from lawyers and various documents. It becomes hard to quite identify the vulnerable documents. Payment, other financial information, and various non-disclosure agreements should be protected from malware.
Encryption: It is always advisable to encrypt personal data and information so that hackers and cybercriminals find it hard to break. But in case they breach encryption, it has to be ensured that the encryption gets maintained 'in rest' and 'in transit' for complete protection.
Verification: Most of the time, hackers get credentials and access to log in to some devices or accounts. So, it is the responsibility of a security service to verify every time someone logs in to someone’s account.
Managing Access: Law firms should ensure that only trusted employees have access to sensitive information. It is their responsibility to manage access services for employees.
Proper Monitoring: Weekly or monthly monitoring by the HR Committee can improve safety. If any suspicious activity is detected, it should be noted and resolved.
In this way, we can provide a safe, secure environment for the clients.
Role of Provakil
At Provakil, we perform all the data security implications that we discussed above. We are a newly based legal software management company; which helps enterprises with all aspects of legal work such as applications for lawyers, digital contracts, litigation, compliance, and intellectual property requirements. We have curated a SaaS platform equipped with advanced Machine Learning and Artificial Intelligence applications, as well as legal software. Our security services have been tried and tested by our clients.
Wrapping Up
This article has described the data security issues facing law firms and why they are important in the current world. We also had a look at some key topics and under these safety measures that need attention.
If you are interested in learning how we can help streamline your legal operations, get in touch with us.
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