Now it’s real. Recent news about large scale data breaches at two major law firms in New York, and a newly public list of others being targeted in Chicago, confirmed what many in the U.S. legal industry have long known but have been reluctant to accept: Law firms are the newest and softest target of cyber-criminal syndicates that are set on stealing and monetizing confidential information, from market-moving M&A intel to sensitive patent filings.
The news has signaled an important turning point for the legal community as law firms struggle to come to terms with the real-life repercussions of a breach and the effect on their reputations and bottom lines. Whether a sophisticated cyber attack or a rudimentary phishing scheme, any breach that exposes confidential client information, or worse, can irreparably harm a firm’s reputation and the client relationships it holds dear. Many firms are now taking the necessary steps to protect and insure themselves for the inevitable attack, but far too many still fall short and are leaving themselves and their clients open to abuse at the hands of those who rule the dark web.
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