Scams are increasing by the day, especially in the digital world. Naturally, the law industry has geared up to help clients looking for assistance to deal with cyber fraud and scams. But what does this all mean for law firms? How do you keep your client’s confidential information safe from scammers? What do you need to know about business email compromise (BEC) scams? And how can you find the right anti-fraud solution for your firm’s specific needs and budget? This will be included in the three-day in-person legal event– the Law 2.0 Conference.
The Law 2.0 Conference, which is positioning itself as the premier event for legal technology and digital attorneys, will bring together more than 40 speakers to discuss everything from data breach prevention strategies to cybersecurity solutions that can increase operational efficiencies in law firms.
Why do Scammers Target Law Firms?
Law firms are lucrative targets of hackers and scammers due to the sensitive client information they possess. As a lawyer or in-house counsel, you’re likely aware that law firms are prime targets for hackers and scammers. Experts will explain the reason for the rising scams at the Law 2.0 Conference; before that, you must gather basic information about the same. The rise in scams occurs in the legal sector because lawyers possess sensitive client information. Scammers are aware of the situation and use it to their advantage repeatedly. They also know that law firms are vulnerable to cyber attacks since many still have outdated IT infrastructure and lack sufficient network security measures. Cyber attacks are more common than ever, so what can you do?
The same question arose at many conferences; experts pointed out that the first step to fighting the scam would be ensuring that your firm’s IT infrastructure is up to date. That means updating any software and hardware, implementing solid passwords for all devices, using firewalls and antivirus software, and installing backup systems in case of an attack.
The next step is to have a cybersecurity plan in place. This should include regular penetration testing when professionals use various methods to break into your systems and networks. If they succeed, then you know where to make improvements so that hackers can’t do the same thing.
The third step is to have a disaster recovery plan in place. Elaborating on the third step of fighting the scam, legal experts who will attend the Law 2.0 Conference have to quip that this backup system allows you to restore your data in the event of an attack.
The fourth step is to implement a security awareness program. This involves training employees on how to spot phishing emails, malware, and other threats so that they can report them if they see any. The fifth step is ensuring your system administrators are up-to-date on the latest IT security trends and standards.
Exploring New Trends To Fight Scam & Cyber Attacks
The Law 2.0 Conference aims to bring law firms up to date on current anti-scam prevention and cyber security tools. The legal summit gathers lawyers, technologists, and other experts who come together to discuss the latest developments in law firm technology. It features presentations on the latest trends in law firm technology, including cloud computing, collaboration tools, and artificial intelligence.
Data breaches are becoming an epidemic for law firms, even those with a strong security posture. As per a recent report: more than half of the respondents experienced a data breach in the past year, and almost half have experienced three or more incidents over the past five years. These data breaches can be costly: they damage your brand and reputation, lead to loss of clients and revenue, and damage trust from existing clients and partners.
The reason is simple: the threat landscape is constantly evolving, and hackers are improving at exploiting vulnerabilities. As technology becomes more complex, these attacks will only become more common. And unfortunately, there are no easy solutions when it comes to data security.
To mitigate the risk associated with data breaches and business email compromises, adopting multifactor authentication is a simple way to evade hackers from getting access to critical systems and hard-earned money, say legal experts who will explore anti-scam trends and technologies at the Law 2.0 Conference.
Keeping Credentials Safe From Scammers
Multi-factor authentication is a straightforward way to prevent hackers from accessing critical systems and hard-earned money. Multi-factor authentication involves using two or more security levels, such as a password and a security token.
While many organizations have adopted multifactor authentication to prevent data breaches and BEC attacks, many legal firms still rely on single-factor logins for their employees. This can be due to misconceptions about the technology or simply a lack of awareness about the benefits it can bring.
One factor logins are vulnerable because they rely only on one piece of information (i.e., your username), so if someone learns this information, they have access to your account without needing any other verification method—an easy target for cybercriminals looking to gain control over sensitive documents containing sensitive information.
Fighting scam is not easy; although Law 2.0 Conference will explore various solutions on the market for law firms looking to put more security in place, not all options will make sense for firms of every size and budget.
One size does not fit all. Smaller firms may not have the budget to invest in a more expensive solution or find some solutions too complex for their needs. In addition, if you’re a smaller firm with fewer employees and less time on your hands than a more prominent firm, you might want to look at other options before committing to an expensive and complicated system. Perhaps you need something simple but effective to fight the scam; you can learn about those tactics by attending professional events like the Law 2.0 Conference!
There are several solutions available to help protect law firms from hackers and scammers, but firms must find the right solution based on their unique needs and circumstances. Many companies offer various solutions, from simple antivirus software to more robust systems that can prevent data breaches and fraudulent activity in real time. It’s important to discuss your options with a trusted provider who has experience implementing these types of systems at other law firms like yours.
Some law firms may want a simple antivirus solution with limited monitoring capabilities. In contrast, others may need more advanced technology like intrusion prevention systems (IPS), or web-based firewalls (WAF) designed specifically for the legal industry by experienced cyber security professionals.
The Law 2.0 Conference brings together law firms and anti-scam technology providers to discuss innovation, best practices, and trends in the legal industry. With so many tools and technologies available in the market that can help your firm protect itself against cyber attacks, it’s crucial to find one that will fit your needs and budget. The event aims to educate attendees about various solutions available today and how they can be implemented effectively at their firms to give a robust fight back against scammers.