Do you have insurance for all the risks you and your law firm face? Many lawyers do not. Legal professional liability coverage is common these days, as lawyers attempt to mitigate the risk of third-party claims. But some claims may not be covered. Neither professional liability, business owners or general liability insurance policies typically cover most cyber incidents. For this reason, lawyers
In the wake of the pandemic, the adoption of cloud technology and remote workforces in the legal sector is accelerating, prompting lawyers and law firms to manage new and emerging risks.
There will always be growing pains during a digital transformation. Lawyers will have to navigate bugs and technical difficulties, technologies will be discontinued or replaced, and hackers and scammers will try to
Email, texting, social media, websites, billing systems—The digital connections you use to do your job every day can present a risk, particularly as a lawyer obligated to professional ethical standards.
Implement these six tips for your firm’s digital presence.
Prioritize Password Security to Minimize Data Risks
Lawyers need to strike a balance between easy access to their digital files and securing the firm’s confidential data.
The threats facing the law profession continue to evolve. Most recently, some lawyers and law firms have faced fake client and counterfeit check scams.
The scheme has resulted in the loss of hundreds of thousands of dollars from the trust fund accounts of law practices, and some lawyers have faced claims, lawsuits and fines from banks, clients and regulators.
Worst of all, not all
More and more, scammers are targeting lawyers by sending forged emails to law firms, clients and financial institutions. These wire fraud scams typically involves a compromised email account, which can be the lawyer’s, the client’s or even the bank’s. Scammers monitor the account to uncover pending transactions, such as a real estate purchase, a loan or the settlement of a lawsuit.
Respected security professionals have compared email to postcards written in pencil—they can be viewed or altered by third parties easily.
Hackers are targeting law firms to steal sensitive client information more and more. A security breach can diminish your firm’s reputation and can also have serious legal and financial ramifications.
It is also ethically required for attorneys to take reasonable measures to safeguard information
Protect yourself with a double security protocol and remember to never send a wire based upon an email alone.
Fraudsters continue to successfully misdirect wire transfers by inserting themselves into email exchanges between parties of real estate and other transactions. Sophisticated fraudsters, however, are no longer just hacking a real estate broker or law firm’s computer server to commit this wire fraud. Fraudsters