As cyberattacks continue to escalate, law firms are increasingly concerned about keeping their data safe and secure. Many cyberattacks have been perpetrated by organized crime syndicates and “gangs” of malicious actors known as ransomware gangs. From 2020 to 2021, one quarter of all data breaches were due to ransomware. And ransomware technology was used in almost three quarters of all malware infections.
Due to the plethora of sensitive information they handle, law firms have always been in the crosshairs of hackers. They process confidential client data, much of which can be used for extortion purposes or even insider trading. In some cases, information held by firms handling major lawsuits could be worth huge sums of money to their opponents. And law firms may have access to financial accounts tied to substantial amounts of client monies.