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Crafting an Effective Roadmap for Implementing Information Governance In Law Firms
In today's digital age, the volume of data generated and managed by law firms has skyrocketed, presenting both opportunities and challenges. Unfortunately, in parallel with this exponential growth in data, and partially as a direct result of it, law firms have also experienced a significant increase in targeted cyberattacks. See, Simek, J. (2023) "2023 Cybersecurity Tech Report," American Bar Association.
Legal entities have become highly valuable targets for cyber hackers for two reasons. See, Bracken, B. (2023) "It's Open Season on Law Firms for Ransomware & Cyberattacks," Dark Reading. First, firms routinely store client data, including customer PII and HIPPA information, patent and trademark applications, and financial transaction records, just to name a few categories. And second, law firms are viewed by cyberhackers as less secure than end clients due to their comparative size. Why risk hacking a 10,000-employee financial organization with a robust security team when you can hack their outside counsel, a firm with 50 attorneys and a three-person IT department?
As a result of this increased risk, information governance has emerged as a critical strategy for law firms to effectively manage, secure, and leverage their data assets. However, implementing IG in a law firm setting is a complex endeavor that requires careful planning and execution. It encompasses creating policies, procedures, and technologies to ensure that information is accessible, reliable, and compliant with regulations and organizational policies.
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