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Protect Your Firm from the Coming Cyber Storm
The rise of security breaches has us all acutely aware of the importance of keeping firm and client information as safe as possible. Law firms of all sizes continue to be hot targets for cybercriminals looking for sensitive financial, personal and business data about clients and cases. Experts predict that 2023 will see more cybersecurity threats than ever before.
Fastest-Growing Threats
According to the Verizon 2022 Data Breach Investigations Report, phishing, malware and ransomware are among the top five fastest-growing security threats. The weak link is often human error, with 82% of breaches involving user errors or transgressions. Whether it is the use of stolen credentials, phishing or simply a failure to recognize a threat, human vulnerability continues to play a very large role in security incidents.
The most pervasive security threats:
- Most phishing attacks are sent by email. The cybercriminal will register a fake domain that mimics a real company or organization and then send generic requests to trick the receiver into sharing personal information, credentials or even making a payment. Phishing emails usually come from sources that appear to be verified and reliable, such as Microsoft or Amazon. However, a closer inspection of the email address usually reveals that it's from a fake URL. Most cyberattacks begin this way, and many users are unable to recognize a sophisticated phishing email.
- Malware is usually distributed through malicious websites, emails and software. Malware can also be hidden in other files, such as image or document files or even .exe program files. A user can unintentionally install malware by clicking on a link in a phishing email or downloading and installing software from a website that is not reputable. Malware can also be installed on a computer when the user plugs in an infected USB drive, or when the user visits a website that is infected with malware.
- Ransomware is a type of malware that prevents or limits users from accessing their system, either by locking the system's screen or by locking files. The hackers then demand a ransom payment in exchange for a decryption key to recover the files.
Steps to Take Now
The American Bar Association 2022 Legal Technology Survey report offers a peek into the changing nature of cybersecurity threats and suggests ways your firm can strengthen cyberdefenses in 2023.
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