Cyberattacks on Law Firms
According to the American Bar Association (ABA), over 80% of law firms reported experiencing a phishing attack in 2023.
Phishing attacks
Law firms are prime targets for phishing attacks due to the valuable client information they manage. Phishing emails can trick staff into revealing sensitive data or clicking on malicious links that compromise systems and expose confidential client information.
Data breaches
Data breaches involving client information can have devastating consequences for law firms, including financial losses, reputation damage, and disciplinary action from bar associations. A 2024 study by Verizon found that the legal services industry had the highest average data breach cost at over $7.3 million per incident.
Insider threats
Disgruntled employees or those with access to sensitive data pose a significant insider threat.
Regulatory requirements
ABA Model Rules of Professional Conduct
This requires lawyers to maintain the confidentiality of client information, which includes implementing reasonable security measures to protect electronic data. Some states have additional data security and privacy regulations for law firms.
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