Extract from LDM Global’s article “Cyberattacks and the Legal Industry”
Why are law firms a prime target for cyberattacks?
How safe is your firm from new cyberattacks?
Law firms are prime targets because that’s where the money is. Bank robbers rob banks and cybercriminals rob any companies holding sensitive data and money. Sensitive data creates the opportunity for hackers to convert data into money.
Remember that to hackers, law firms are banks because they hold sensitive data, including bank details belonging to high net earners. Hackers will be particularly interested in client accounts that facilitate access to retainer fees and other payments made by clients, potentially high net earners. Once a hacker accesses data such as account numbers and access information, scooping up funds from client accounts is the easy part.