Every day your law firm is more vulnerable to attacks than yesterday.
You likely have a variety of databases filled with sensitive, comprehensive data about your clients. This makes you a perfect target for cybercriminals who want to steal and sell or expose that data. A successful breach can mean loss of clients and – worse – the reputation of your firm as a place where clients’ data will be safe.
Cyber breaches for law offices happen all the time. In 2021, the average cost of a data breach reached $4.24 million, with remote work increasing costs by $1.07 million more. Clients are more and more requiring their partner offices to prove data compliance using third-party assessments. Your office needs to be in a constant state of assessing, reassessing, and improving your cybersecurity profile as threats evolve.
“Attorneys need to constantly assess the security of their practices and evolve with the new threats and methods. Firms won’t survive with a “set it and forget it” mentality.
All law firms would be wise to heed the words of Benjamin Franklin when it comes to cybersecurity: ‘Failing to prepare is preparing to fail.'”
American BAR Association
We know from our current legal partnerships that many cannot afford to repeatedly pay $10,000 to $50,000 to assess their environment. How many billable hours for senior lawyers, managing partners, or group councils are spent talking about and planning to protect their practice? Hiring an internal cybersecurity staff member isn’t ideal either – these professionals can cost 100k+/year to retain, and large offices may need multiple to cover their practice.
Cybercrime is getting more prevalent and complex every day. That’s why, despite the problems, every law office needs a risk management solution that’s low-maintenance, specialized, and affordable enough to retain log term.