CyberSecurity Month: How Legal Tech Is Helping Firms Against Rising Cyber Threats

21
Oct
2024

Brian Rogers

This cybersecurity month, Brian Rogers, regulatory director at Access Legal, part of The Access Group, explores the IT security landscape and how law firms can navigate challenges through investment in the right legal technology.

The digital landscape is more complex than ever. The threat of cybercrime has escalated across many industries - including in the legal sector. Law firms, in particular, are a prime target for cybercriminals, owing to the vast amount of sensitive client information they are responsible for managing, as well as the often large sums of money they handle on behalf of clients.

In 2024, data breaches and cyber-attacks are expected to reach new heights, predicting it to be a record year. This surge has left many firms grappling with the challenge of safeguarding sensitive and confidential data while ensuring compliance with stringent GDPR regulations to make sure they have the right policies, practices and measures in place.

Data breaches don’t just lead to financial penalties under GDPR - they also cause reputational damage that can erode client trust, impacting long-term business success; they can also have an impact on professional indemnity insurance policies, with increased premiums or insurers refusing to provide cover. 

October’s Cybersecurity Month encourages firms to review and if needed, reinforce their security measures, and, with such high risks to clients' data, the importance of investing in secure digital services cannot be overstated. Investing in legal technology is certainly an important place to start, but firms should also consider how they can empower their fee earners to spot, manage and prevent potential threats.

Cybersecurity challenges

Law firms are trusted with vast amounts of confidential information, ranging from case details to personal information and financial data.  If they don’t have robust cybersecurity measures, they leave themselves open to becoming a potential target for a cyber attack.

In fact, hackers are becoming increasingly sophisticated with their tactics, with a recent report revealing that critical risks in 2024 have included phishing, multi-factor faking, and deepfakes. Deepfakes, for example, allow criminals to mimic clients or partners, tricking legal professionals into disclosing sensitive information or authorising fraudulent transactions. Deepfakes can also be used by criminals trying to impersonate clients going through client due diligence checks for anti-money laundering purposes.

These tactics have been behind many security threats, with a 77 percent increase in successful cyber attacks this year alone, highlighting the need for law firms to invest in advanced defences that go beyond traditional security measures, such as firewalls and password protection.

Legal technology has revolutionised how legal firms operate and can also help to potentially protect them from such attacks or threats. Beyond streamlining operations and supporting hybrid working, cutting-edge tech helps legal professionals manage cases securely and keep sensitive information safe.  Such features include identity verification checks for anti-money laundering (AML) and conveyancing searches, legal compliance software designed to centralise compliance data and reports, and enhanced cloud infrastructure which enables firms to store, access and manage data with a more robust solution.

Additionally, more sophisticated cybersecurity tools are emerging, including biometric authentication systems, using facial recognition, fingerprints and voice identification to verify identity - this adds an extra level of protection that passwords alone cannot.

Cloud-hosted legal software, such as case management or practice management tools should have security features built-in as a standard, including end-to-end encryption, which protects data during transmission and multi-factor authentication (MFA), which adds an extra layer of security by requiring users to verify their identity. These features reduce the risk of unauthorised access, but law firms must ensure these tools are properly configured and regularly updated to remain effective.

Identity verification has again, recently, been catapulted into the spotlight with research that uncovered more than a million passwords were linked to the IT systems of UK law firms on the dark web. This highlights the importance of training for law firms to understand the risks of cyber threats and how they can be prevented in the first place. Firms should also ensure their cloud and IT support companies are working to keep their systems secure and ensuring criminals can’t easily access a firm’s system through poor security measures or password protection.

Staying proactive against threats

While investing in the right technology with advanced cybersecurity solutions is paramount to safeguarding information, law firms can also focus on proactive strategies and educating their employees too.

One of the most effective ways of protecting sensitive information is by fostering a culture of awareness. Cybersecurity is not just the responsibility of an IT team, every employee, from junior staff to partners, play a crucial role in safeguarding information.

Regular staff training on common threats is crucial. In being able to confidently spot phishing, social engineering and password vulnerabilities, staff will be empowered to recognise and mitigate risks before they turn into anything more serious. Firms can also establish clear protocols about who can access certain information and ensure permissions are granted based on the necessities within someone's role.

Other basic things like ensuring paperwork is safely stored and saved on laptops and not sharing passwords outside of the organisation might seem obvious but can sometimes be overlooked too. Simple, but effective measures, such as encrypting stored data and enforcing strong password policies, can prevent many common breaches. Having procedures for these occasions can also have an impact on protecting a law firm from potential threats.

The importance of cybersecurity awareness

As Cybersecurity Month serves as a reminder of the growing risks facing businesses, law firms should take this opportunity to evaluate their current cybersecurity practices and make the necessary upgrades required. Access Legal offers webinars and information to help customers ensure they are protected. It is also advisable for firms to consider carrying out a cyber security audit to double check that they have the right procedures in place. These regular audits identify potential gaps in cybersecurity, ensuring new threats are promptly addressed before they can cause harm.

The legal sector's natural reliance on sensitive data makes it a lucrative target for cybercriminals, but with the right technology, training and protocols, law firms can ensure they are always one step ahead of attackers.