Cybersecurity essentials: four proactive steps to mitigate threat

Cybercrime is an ever-growing threat to professional organisations. Hackers target money, status and data - so it's no wonder law firms are prime targets. Across the UK's legal sector there was a 36% increase in online breaches in 2022/2023.

Law firms are enticing targets as they work with high volumes of personal and sensitive data. They handle everything from financial transactions to trade secrets and intellectual property. Some firms may even represent high profile individuals.

Cybercriminals can be hard to detect. Some are highly organised and operate as legitimate businesses with offices and salaried staff. Others may be smaller outfits that exist in illegitimate online communities.

Hackers take advantage of security loopholes, outdated software and inadequate employee training. They may use phishing or ransomware attacks. But extortion, insider threats, third party risks and social engineering are also common tactics.

These threats shouldn’t be ignored. Attacks can result in financial losses, operational disruption and reputation damage. All of which can impact potential future business and existing professional relationships.

Here are four proactive steps firms can introduce to mitigate cyber risk:

1. Cyber defence strategies

Assess and understand your organisation’s risk levels. Then implement appropriate risk management strategies.

Detect weaknesses and introduce defensive controls. A thorough approach should include vulnerability assessments, penetration testing and security audits. It's also worth identifying weak points in employee knowledge and third-party risks.

Review all the above regularly to maintain reliable defence measures. Technologies are constantly evolving so staying up to date is critical.

2. Robust security controls

Multi-factor authentication is a cyber safety process that protects sensitive information. It requires employees to use more than a password to access accounts. This extra layer of authentication protects remote access, admin accounts, emails, and client accounts.

Without this level of security, the risk of data breach significantly increases.

Secure data back-ups are an important practice in digital safety. So much so they are a pre-requisite for anyone purchasing cyber insurance. In the event of a breach, secure back-ups minimise operational disruption.

3. Employee education

Human error accounts for more than 80% of cyber security violations. Training should not be underestimated as a defence strategy. Educating staff on cyber hygiene reduces errors and improves compliance.

4. Cyber insurance

Only 20% of law firms purchase this insurance. Given the increasing threat of cybercrime, it’s worrying so few companies consider it a worthwhile spend. It’s a strategic defence that provides a safety net against security breaches.