‘Sector needs to take this seriously’: cyber-attack on offshore firm Appleby sees data on brink of entering public domain

‘Sector needs to take this seriously’: cyber-attack on offshore firm Appleby sees data on brink of entering public domain

The growing threat of cyber-attacks shows no sign of abating, with news that global offshore firm Appleby was the victim of a data breach last year.

In a statement on the firm’s website posted yesterday (24 October), Appleby conceded that a ‘data security incident’ took place in 2016. Continue reading “‘Sector needs to take this seriously’: cyber-attack on offshore firm Appleby sees data on brink of entering public domain”

‘Collateral damage’: Profession gets a stark wake-up call on tech security in wake of crippling DLA cyber assault

‘Collateral damage’: Profession gets a stark wake-up call on tech security in wake of crippling DLA cyber assault

Kathryn McCann assesses the impact of the cyber attack on DLA and the wider legal market

For years, the possibility of a major cyber attack on a leading law firm has been discussed. Inevitably, it finally materialised. On 27 June DLA Piper was crippled for days after the global giant’s systems were hit by what the firm terms a ‘particularly sophisticated strain of malware’. (In cyber jargon, malware is malicious software designed to disrupt, damage or gain access to computer systems.) Continue reading “‘Collateral damage’: Profession gets a stark wake-up call on tech security in wake of crippling DLA cyber assault”

Law firms report record £3.2m cybercrime theft in first quarter but prosecutions have fallen

Law firms report record £3.2m cybercrime theft in first quarter but prosecutions have fallen

UK law firms have reported a record 45 cases of cyber thefts to the Solicitors Regulation Authority (SRA) in the first quarter of this year, with £3.2m stolen through conveyancing and inheritance matters as well as from law firms’ own accounts – mainly through email modification fraud.

The number of crimes reported more than doubled the 21 recorded over the same period in 2016. Continue reading “Law firms report record £3.2m cybercrime theft in first quarter but prosecutions have fallen”

Linklaters to recruit first chief information security officer as DLA breach pushes security up firms’ agenda

Linklaters to recruit first chief information security officer as DLA breach pushes security up firms’ agenda

Linklaters is seeking to recruit a chief information security officer (CISO) to establish, shape and deliver its global IT security strategy and management programme, a new position for the Magic Circle firm.

The recruitment drive follows swiftly after a major cyber attack on DLA Piper on 27 June, which knocked down the firm’s communication system, temporarily putting its phones and computers out of action.  Continue reading “Linklaters to recruit first chief information security officer as DLA breach pushes security up firms’ agenda”

Mishcon boosts fledgling cyber security consultancy service

Mishcon boosts fledgling cyber security consultancy service

Mishcon de Reya has brought in Mike Owen from PwC as the fourth member of its expanding cyber security consultancy service, advising clients on cyber intelligence, risk consultancy and reputation management.

In a month of global cyber attacks, the new cyber security adviser, who previously worked at BAE Systems and Sage Pay, joined Mishcon’s non-lawyer analysts Emeric Bernard-Jones and Laura Hawkins, and head Joe Hancock.

Continue reading “Mishcon boosts fledgling cyber security consultancy service”

The risk debate – The coming storm

The risk debate – The coming storm

On the day Brexit officially began, our annual Legal Business/Marsh round table found risk managers on the front line of a series of cataclysmic events

29 March 2017 will be a date that will remain ingrained in the memory, with Prime Minister Theresa May invoking article 50, formally triggering the Brexit process. Later that evening it was inevitable that the real effects of Brexit would dominate the discussion at our annual risk management round table.

Continue reading “The risk debate – The coming storm”

The risk debate: The gate keepers’ burden

The risk debate: The gate keepers’ burden

Our annual Legal Business/Marsh round table saw law firm risk managers debate their role in fighting on two fronts – against demanding clients and internally with their fee-earners

Our 2016 risk management report, published last month, looked at a number of live issues for risk management teams within the UK leading firms, most of which place those teams at the frontline of potential battles.

Continue reading “The risk debate: The gate keepers’ burden”

The battle within: Risk management and professional indemnity survey 2016

The battle within: Risk management and professional indemnity survey 2016

With cyber risk exploding and storm clouds over the economy, it’s harder than ever to balance risk with commercial realities. Legal Business’ annual risk survey asks how law firms are coping.

While no major law firm has yet fallen prey to the sort of high-profile data breach that the mobile operator Talk Talk suffered in 2015, the threat is front and centre of every risk manager’s mind. For those polled in Legal Business’ ninth annual risk management survey with broker Marsh, ‘IT security breach/data management accident or breach’ was again regarded as the most significant risk to law firms in terms of the damage it could cause and the likelihood of it occurring (see table).

Continue reading “The battle within: Risk management and professional indemnity survey 2016”