Greg Churilov writes for American Legalnet about Law Firm Risk Management: Cyber Security and Beyond. In this insightful article the author provides many statistics showing the need for more attention to cybersecurity in today’s law firms.
“Most people, and the majority of companies, seem to believe that financial and healthcare sectors are the only two that really need to be concerned with a data breach. However, law firms are certainly not immune. The breaches that occur at law firms generally do not make the news, because publicizing those events would be detrimental to the firm…
There is a heavy cost to a data breach. Data breaches in 2013 cost the company that experienced the breach an average of nearly five and a half million dollars. That is a staggering figure, and one that can vary depending on the size and kind of company, the size of the breach, and the type of data collected. While the idea that a law firm could have to pay out that kind of money is undoubtedly a frightening prospect for any firm, it is also important to note that the financial cost of the breach can be much more than just what the firm actually must pay out to solve and recover from the breach.”
via PinHawk Blog