Almost all UK law firms vulnerable to email fraud
Nearly all UK law firms are vulnerable to email fraud. Of the top 100 firms – when tested – only one organisation had adequate measures in place to protect against email scams.
Law firms are now a key target of cybercriminals looking for lucrative prospects, not least because of the amount of sensitive and hugely confidential commercial and private data they hold.
The SRA’s Spring 2018 Risk Outlook (Protecting client money) shows that in 2017 reports of cybercrime increased by over 50%. This highlights the importance of firms putting adequate measures in place to protect both sensitive client information and hard-earned reputations.
Firms who assume any existing IT security solutions will adequately protect them against phishing attacks could be in for a nasty surprise. The financial, and reputational cost of future attacks on the legal sector, could be devastating.
Commenting on the level of risk, Gerry McFall, Commercial Director at Lawyer Checker said: “Lots of firms think their current email systems will protect them. Others simply don’t appreciate the risk. We know that it is easy for seasoned fraudsters to abuse these firms’ email domains, to imitate the firm and send out fraudulent messages to stakeholders and clients outside the business.”
He added: “People are often thought to be the weakest link when considering cyber security, but in this instance, it is the email systems that are being tricked”.
Thankfully, technology is available to stop schemers from being able to use your domain to send fraudulent emails to your employees and clients.
Domain-based message authentication, reporting and conformance (DMARC) technology can help to stamp out email spoofing. It strengthens law firms’ defences against attempts to steal and manipulate client data and monies. Indeed, following its implementation by HMRC, the government agency saw the number of malicious emails drop by a staggering 300 million.
Lawyer Checker – which provides technology and products to help protect lawyers and consumers – has recently launched its OnDMARC service, to help firms secure their email effectively.
To find out more about how to get the support you need to implement OnDMARC confidently and quickly, please click here.
This article was submitted to be published by Lawyer Checker as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.