Friday, June 17, 2016

5 Steps to Safeguarding Your Most Sensitive Data

, Legaltech News

These steps will help your firm comply with increasingly complex requirements while protecting sensitive client data from cybercriminals


Over the last decade, it has become increasingly apparent that law firms are one of the hottest targets for cybercriminals seeking to benefit from sensitive client data. Just this year, data breaches like those at Cravath Swaine & Moore, Weil Gotshal & Manges, and Mossack Fonseca have demonstrated that most firms do not have basic cybersecurity controls in place for detecting and mitigating data breaches.
According to the New York Times, in 2014 global banking institutions responded by increasing pressure on outside law firms to demonstrate they are utilizing top-tier technologies to defend against cyberattacks. Often, these firms must consent to on-site inspections and are required to fill out 60-page questionnaires detailing their cybersecurity measures in minute detail.

The cases above are somewhat extreme, but they demonstrate the seriousness of the threat of cybercrime to law firms. The following steps will help your firm comply with such requirements while protecting sensitive client data from cybercriminals.

1. Identify Where Sensitive Data is at Risk: Prepare for clients to ask about your security posture by conducting a comprehensive review of your firm's environment. This will help to identify gaps where confidential client data, including information stored on mobile devices, could be at risk. There are many services that can help with this assessment and provide an understanding of where exactly sensitive client data is being stored by your firm, as well as how it's being used.

2. Move Beyond the Traditional Network Security Focus: While network protection tools are necessary, they cannot be the primary line of defense. To truly keep its data safe, a firm must employ a multi-layered approach to cybersecurity focusing on data protection. This protects both the network and the data. It also protects from both outsider and insider threats. Finally, it prepares the firm to counter each stage of a cyberattack.

3. Focus on Securing the Crown Jewels: Ensuring that security travels with the data is critical to preventing cybercriminals from accessing the information, regardless of where it's stored. Solutions that focus on data protection are useful in helping law firms classify data, apply a usage policy for that information, and enforce it. These solutions are a necessity for firms seeking to protect client data in the rapidly-evolving threat landscape.

If a law firm makes it just a little harder to steal sensitive information, or renders the data useless once outside the network, cybercriminals will move to the next easiest target. Analyst firms agree that data protection must be the focus for law firms as cybercriminals begin targeting client data specifically. Particularly as data continues to be accessed on more interconnected devices than ever before, adequate protection needs to be a focus of every law firm's security approach.

4. Consider Managed Security Providers: If your firm is looking to avoid implementing advanced data protection solutions on its own, consider hiring a managed security provider (MSP). Small firms may benefit from this option, as MSPs require fewer financial and personnel resources. This is particularly relevant in today's IT talent shortage, as an MSP can free those workers to concentrate on other initiatives.

5. Go Beyond with Positive Social Engineering: Employee security awareness is a critical component to protecting client data. The key to employee security training is to go beyond slideware and annual refreshers. Prompting functionalities in technology make it easy to help employees self-correct data use issues. For example, a customer recently reported an 85 percent decrease in data use policy violations after six months of using real-time, pop-up dialogue box prompts. Often, a simple reminder of what corporate policy is, and how they can adhere to it, is all employees need to make a change in their behavior.

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