The news late yesterday of another global cyber-attack reportedly affected DLA Piper as well a multitude of other organisations globally, coming just over a month after the major attack which affecting the NHS, has sent shock waves through the legal community.
Many firms are taking their cyber-security seriously but others are still viewing cyber-security solely as an IT issue.
Cyber security is a business risk. It requires engagement and ownership at Senior Management or Board level. It must be embedded as part of a firm’s culture.
Law firms are under a regulatory obligation to maintain systems and controls for monitoring financial stability and risks to money and assets entrusted to them, keep clients’ affairs confidential, protect client monies and assets and continually consider business continuity risks including IT failures and abuses as well as taking appropriate technical and organisational measures to protect against unauthorised or unlawful processing, accidental loss or destruction or damage to personal data.
Regulators are getting tougher and action will be taken against firms that are not proactively managing this priority risk.
Be prepared, an attack can happen to anyone at any time and will happen when you least expect it. Implementing strong cyber risk management procedures, means you can mitigate the risk!
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