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Legal, Financial and Real Estate

Legal firms by their very nature handle financial transactions involving large amounts of money and sending and receive bundles of sensitive client information.

To handle this data, legal firms rely on digital technology and systems to carry out everyday tasks including online bank transfers, automated identity checks or simple emails from the firm to their clients.

A report by Accounting today revealed that since the beginning of the pandemic, there has been a 300% increase in cyber-attacks on accounting practices. To help firms and practices across these sectors, we have produced a number of resources and guidance articles to help you become more cyber aware.

A new report reveals 75% of legal firms surveyed lost £4m of clients’ money to cyber-attacks

The financial impact of a loss of data is more difficult to calculate, one firm lost around £150,000 worth of billable hours following an attack which crippled their system.

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A recent report revealed that only 20% of legal firms train their employees on cyber security, yet 98% of cyber-attacks are as a result of human error. Our cyber security awareness training can help educate your employees.

Why is cyber security training important for the legal sector?

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40% + of legal practices didn't update their cyber security policies to include remote working

Over 40% of practices have not fully updated their cyber security policies since moving to remote working in March last year.

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Accountancy firms are facing an increase in cyber-attacks as criminals switch their focus to ‘softer target’ smaller firms, who are often do not believe they will be targeted.

Why are accountancy firms targets for cyber-attacks?

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Cyber Inside Out Podcast: Episode 6 - Legal and Financial Sector

This episode focuses on guidance for the legal, financial and real estate sectors and is hosted by Chris White. Chris is joined by a Senior Partner at a UK law firm.

Listen here