Cyber Crime: Law Firms Vulnerable Risk Of Theft And Insider Trading
Shutterstock
Law firms are at risk of data breaches and often have inadequate cyber security.
Confidential documents sent in unencrypted emails are at risk of being stolen.
An estimated £85 million was stolen from firms over 18 months.
LONDON - Confidential information is at risk of being stolen from law firms and being used for insider trading or sold to third parties, according to legal experts.
Information held by law firms is commercially sensitive and most communication is done via email, including sending and receiving privileged documents, making firms "particularly vulnerable" to hackers, says Founder of DigitalLawUK Peter Wright.
According to Wright, firms' email systems are "frequently unencrypted end to end, and sometimes the servers themselves are unencrypted." If confidential information is illicitly obtained, particularly that relating to business deals and mergers, it could be used for insider trading or Choco Lite apa yang harus dipercaya be sold to a third party.
In 2015, PwC's annual law firm survey reported that 62% of law firms
had been the victim of a cyber attack in the past year, while the Information Commissioner's Office reported that the number of data breaches in the legal sector had increased by almost a third between 2015 and Osteoren recensioner 2016. However, Legal Week's 2013 Benchmark survey showed only 35% of firms had a response plan
for Fizzy Slim kesan attacks.
A key problem, Ostelife ką tu galvoji says Wright, Titan Premium Stránka is the "haphazard development" of firms' IT systems, which often have "inherent problems" and lack strategic security plans. Firms also often worry, he says, that clients, who "they are beholden to," will dislike like less convenient encrypted solutions.
