The UK’s National Cyber Security Center (NCSC) has released updated guidance to help law firms mitigate the latest cyber threats.
The sector is worth an estimated £44 billion ($56 billion), employs more than 320,000 people and comprises about 33,000 companies, according to the report. However, the size of these organizations and the amount of resources they devote to cybersecurity can vary greatly.
PwC last year claimed that the top 100 law firms spent an average of 0.46% of their fee income on cybersecurity in 2022.
Read more about legal cyber threats: Nearly one-fifth of law firms show signs of breach
These are popular attack targets for several reasons. Lawyers typically work with sensitive information on behalf of their clients, some of which could be used for insider trading or to gain an advantage in negotiations or litigation, NCSC warned.
Law firms also handle large sums of money for their clients, and ransomware disruption can be costly. Small businesses may also use external IT service providers, exposing them to supply chain attacks, making it difficult to assess their true level of cyber maturity.
The main threats to this sector highlighted in the report are:
- Phishing emails designed to steal credentials or install malware
- Business Email Compromise (BEC) aimed at tricking victims into sending large amounts of money to attackers
- Ransomware and other malware that can disrupt business operations and steal sensitive information
- password attack. Takes advantage of generally poor security practices.
- supply chain attack.Small law firms are particularly exposed
“It is very important for lawyers and law firms, both large and small, to be aware of the cyber threats they face and take steps to protect their systems,” argues law association president Rubna Shuja.
“This new report from the NCSC is a timely intervention, providing information, practical guidance and tools to help protect the sensitive data held by the legal department from cyberattacks, and is essential for our members. It will be a great resource.”
