Cyber security is today an unavoidable concern for law firms and the legal sector at large, which oversees disproportionately large volumes of sensitive data and which is therefore an attractive target for sophisticated threat actors. From confidential information about mergers and acquisitions to disclosures made under attorney-client privilege, todayís law firms are inundated with data that would be disastrous if leaked, both for the results of individual cases and for these firmís long-term reputations.
Indeed, this reputational damage diminishes the very trust upon which the legal profession is predicated, jeopardizing client relationships and hindering customer acquisition. Legal organizations lose 5% of their clients following a data breach, while significant or high-profile breaches can even prompt a firmís eventual collapse, as was the case for Mossack Fonseca in the infamous Panama Papers breach.
In todayís increasingly digital business world, even the most private legal documents are now regularly revised online, transferred over email, and stored in the cloud. This shift creates an urgent need for cyber defenses that can safeguard these files across complex and hybrid infrastructures. Yet most law firms are relatively small, many do not employ large security teams, and few have adequately prepared themselves for the stealthy behavior and machine speed of modern cyber-attacks.
Many law firms across the world ó including Magic Circle and Am Law 100 firms ó have deployed Darktrace to pre-empt emerging threats before itís too late. Darktraceís world-leading cyber AI security has allowed these firms to demonstrate a serious cyber security strategy, one in line with client expectations, and to increase confidence in their defenses against both insider and external threats.