The Future of Cybersecurity for Law Professionals

Summary:

Cybersecurity is essential to law firms who must protect sensitive client data. Learn about threats, consequences, and what they’re doing to fight back.

Key Points:

• 2024 has set the record for cybersecurity breaches against law firms.
• Cyber attacks result in stiff consequences for law firms and their clients that include loss of client trust, disruption to operations, and financial loss.
• Law firms should take measures to protect themselves and their clients. These include creating consistent policies, conducting a risk assessment to uncover potential, and effectively training data staff.

If you are a high school student with a keen interest in the law and cybersecurity, Prelum’s university partners offer online law programs for students, as well as courses in cybersecurity.

Law firms have long been considered a secure place for information. What do law firms pledge to protect? Here are just a few items:

• Internal data
• Client data
• Financial statements
• Medical data
• Criminal records
• Intellectual property

Yet data breach incidents have surged throughout the legal system. According to The American Bar Association, 27% of law firms reported experiencing a security breach in 2022 alone, and that number is rising. So is the cost of the average data breach. A recent report noted that “the global average cost of a data breach has risen to $4.45 million. This amount is the highest ever reported and represents a 15% increase over the past three years.” 

Law.com reports that data breach lawsuits are also on the rise. “More than 40 data breach class action suits are being filed every month so far in 2024. Just five months into the year and 2024 has set the record for cybersecurity breaches against law firms.”

What are the consequences of a law firm breach?

Cyber attacks result in stiff consequences for law firms and their clients. A few examples:

Client trust and reputation: When clients entrust sensitive data with their attorneys, there is a natural expectation of confidentiality and security. A data breach can mean loss of highly private information, social security numbers, financial data, intellectual property — the kind of losses that threaten a client and can often result in a lawsuit against the firm.

Legal and regulatory fallout: Some breaches may cause consequences, such as regulatory penalties, fines, lawsuits, and sanctions.

Significant financial losses: The penalties go beyond regulatory fines and legal expenses. Costs to law firms also include forensic investigations, cybersecurity upgrades, and efforts to repair reputational damage. This often necessitates expensive, ongoing public relations efforts.

Disruption to operations:  A cybersecurity breach typically results in disruption of normal business operations. This adds up to productivity losses, downtime, disruption of client services, and sometimes loss of business or downsizing.

What can law firms do to keep cyber breaches at bay?

A recent report from KPMG comments: “Cybersecurity threats are likely to multiply in the future, as cyber criminals become adept at using generative AI for writing ransomware, bypassing protections, spreading misinformation, and other offenses. Legal teams will be called upon to respond to these risks on a number of fronts.”

Here are 5 key actions law firms can take to protect themselves and their clients:

1. Create consistent policies that enable clients to effectively respond to and mitigate ransomware attacks.
2. Conduct a risk assessment to uncover potential vulnerabilities. Consider hiring a third party to do an independent audit. This helps identify cybersecurity gaps and create a response plan.
3. Ensure operational teams use cybersecurity technology to protect organizational data. Make sure you are compliant with today’s stricter data protection/cybersecurity laws.
4. Educate the members of your staff who are responsible for data security. They must have the skills to understand the sources of cyber risks and the needed safeguards. Make them aware of the guardrails you’ve installed to mitigate risks, and what red flags to look for.
5. Obtain security certifications to prove your credentials. For instance, becoming ISO 27001 compliant teaches firms everything they need to know about securing data, while instilling trust with clients.
   

AI and cybersecurity are here: start your education now.

If you are a high school student with a keen interest in the law and cybersecurity, Prelum’s university partners offer online law programs for students, as well as courses in cybersecurity. These dynamic courses are a great way to see if a future in today’s tech-forward legal system is for you. 

Prelum partners with some of the leading colleges and universities across the country. Consider this cybersecurity course from Georgetown University. Cybersecurity: Protecting Our Digital Future explores how cyberspace has evolved. You’ll learn about cybersecurity and AI, and identify the many different types of attacks.

Georgetown is also where you’ll find two relevant online courses in law. Let’s take a look:

Law: How To Think Like An Attorney delves into the skills lawyers draw on to collect and analyze evidence, how to pose questions objectively, and how to make decisions based on information. You’ll hear from Professor Charisma Howell, J.D., and earn a Certificate of Completion upon successful completion of a Final Capstone Project.

International Law: Protecting the World’s Interests explores how international law is created. You’ll learn how jurisdiction works, how international treaties are negotiated, and how international law is enforced. You’ll even review a current case study on the war in Ukraine, and complete a Final Capstone project where you will act as an advisor.

You’ll also want to consider a computer science program from Case Western Reserve University. Computer Science: An Introduction to Digital Technology guides you through the workings of the Internet. You’ll study computer science, web applications, and the various languages computers use to share information.

Law enrichment programs are also available at partner schools like the University of Notre Dame. Law: Thinking Like a Lawyer explores cases in criminal proceedings. You’ll learn how the IRAC method is used to analyze legal issues; and delve into the ways property rights protect people’s ideas, designs, and product innovations. 

There is no question that AI technology is advancing faster than was expected. The downside is that data breaches are a rising issue.  Law firms addressing the issue head-on is vital. Want to be part of this brave new world? Get started now!