With cyber attacks making headlines and a recently created New Jersey State Bar Association task force examining cyber security issues in the profession, the issue of protecting client data and law firm assets is more important today than ever before.
Mike Mooney, senior vice president and professional liability practice leader of USI Affinity, recently discussed the cyber liabilities firms face.
Why are law firms at risk from cyber attacks?
Firms have a rich collection of confidential information. Clients necessarily provide a great deal of private information, including information about their identity and financial data, to their attorneys. It's a critical part of the attorney-client relationship, but it also makes firms potential targets of hackers. In addition, many firms, especially those that are solo or small-firm operations, don't have sophisticated security and expertise to protect that kind of sensitive information, even though organizations including the FBI, Citigroup, and Cisco Systems Inc. have all warned that law firms are being hacked or vulnerable to hackers.
What are some of the vulnerable spots in a small business like a law firm?
There are numerous ways for hackers to access valuable information, like a failure to use encryption, a lawyer losing a phone or tablet, unsecure wireless access, poor staff training, and more.
What risks does the legal community face?
Last year, over 2 million records were exposed in the legal community, according to a NetDiligence cyber claims study. The average cost associated with each exposed record was $17,035.
What are some ways to protect a business and its clients?
When it comes to cybersecurity, you may have the latest systems in place to prevent viruses, worms and more from ever entering your computer or network, but the first line of defense will always be your commonsense. Here are four key things to keep in mind:
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Don't click on a link on a webpage, in an email, or in a chat message unless you absolutely trust the page or sender.
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Often, fake emails and webpages have bad spelling, or just look unusual. Look out for strange spellings of company names or unusual spaces, symbols, or punctuation.
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Use a cloud backup system to protect files.
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Another layer of protection is cyber insurance, which can offer additional protection and coverage in the event of a hack.
USI Affinity is a sponsor of the NJSBA. To find out more, visit njsba.com.