The UK is likely to be affected by a major cyber-attack before 2020.
This is according to the head of the National Cyber Security Centre (NCSC) Ciaran Martin, who highlighted the significant damage that an assault could have on national infrastructure.
Whilst the UK has so far been fortunate enough to avoid a category one attack – a national emergency – Mr Martin expressed his fears that one was likely to occur within the next two years.
Since the launch of the government body last year, the NCSC has recorded a total of 762 category three attacks and 34 category two. Admitting that total protection from these, or even more serious attacks was impossible, Mr Martin stated: ‘I think it is a matter of when, not if, and we will be fortunate to come to the end of the decade without having to trigger a category one attack.’
Reports such as this indicate the pressure that UK businesses are under; as well as having to prepare for the implementation of the General Data Protection Regulation, firms are also battling against the risk of being targeted by cyber criminals.
The same can be said for the legal sector.
Awareness of cyber-attacks may have grown over the past year but the protection of client funds remains a key area of vulnerability for law firms. And this isn’t something which is likely to change.
Fraudsters know that as the public becomes more aware of what to look out for, they need to refine their techniques and utilise new methods of duping unsuspecting consumers. As a result, email interception becomes more streamlined, criminal correspondence becomes more believable, and the risk of money being transferred to an illegitimate source will increase.
In order to ensure that transactions are properly protected, it’s essential that consistent checks are applied on a wide-scale basis and prevention strategies are taken seriously.
To verify that the bank details of a third-party firm are genuine and mitigate the risk of fraud, the SRA advises considering the use of a service such as Lawyer Checker.
As well as protecting transactions to a consistently high level, the use of a service such as Lawyer Checker can positively influence the culture within a firm and ensure that employees are alert to the risk.
At a time when new threats to client funds are emerging frequently, it’s vital that prevention strategies are implemented on a wide-scale basis. It is only then that their effectiveness will be ensured.
Click here to find out how Lawyer Checker can protect your clients’ money.
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.
