Let me tell you a story.
In 2010, an Australian mining behemoth called BHP Billiton moved to take over Potash Corp. of Saskatchewan Inc., the largest potash producer in the world. It was a huge acquisition deal, worth $40 billion, and the company had hired a string of high profile Canadian law firms on Toronto’s Bay Street to broker the deal.
Then, disaster struck.
In a bid to derail the process, Chinese-based hackers launched a full-scaled assault on the law firms, with a view to stealing sensitive financial information.
This kind of data can be worth tens of millions of dollars, giving the possessor a serious (and unfair) advantage in the negotiations – and the hackers were persistent. Secure network after secure network fell to the infiltrators and, before anyone fully realised what was going on, the offices of seven different law firms had been hacked, their data thieved.
Worse, the infiltrators pushed on into government departments connected to the deal, causing chaos.
Eventually, with no way of knowing if or how the stolen data would be used, the Canadian government killed the deal, saying it would threaten national interests. The hackers had won – and the law firms trusted to handle a multibillion deal not only lost out, but seriously lost face.
You might think this is an isolated incident. It’s not.
According to Bloomberg, most law firms will at some point find themselves the targets of hackers. And 80% of the world’s biggest firms already have.
Faced with a threat of this magnitude, are you confident that your current networks are strong enough to withstand an attack?
That you can assure your clients you’ll keep their sensitive information safe? That you’re backing up data effectively should someone seek to destroy it? And that you can avoid a potential malpractice lawsuit if the worst does happen?
Secure hosting and rock-solid data protection are more important than ever.
Law firms in the digital age need to be able to show their clients that they understand what’s at stake and are making every effort to keep their intellectual property safe.
Off-the-shelf firewalls just won’t cut it.
You need to be backing up data to secure cloud servers in multiple locations. Leveraging the power of cloud technology to support secure data exchange. Switching from vulnerable traditional infrastructures and localised file hosting to secure hosting of file and applications in the cloud.
The best cloud service providers offer industry-leading encryption gateways, while multi-factor authentication options are used to bolster corporate access.
Private information is centrally secured, making it far harder for hackers to infiltrate your system.
Best of all, all the hard graft is taken care of by a dedicated specialist, taking the pressure off your IT team to deal with this in-house.
The risk of data leakage is not only sharply diminished, but you can also rest assured that you’re meeting all your compliance requirements. No one can say that you haven’t made every effort to meet your responsibilities, and you’re safe from any accusations of malpractice.
And, crucially, you can put your clients’ minds at rest, assuring them in good faith that you take the issue of their data security extremely seriously and that their sensitive information is in safe hands.
With hackers getting more sophisticated all the time, the stakes are sky high and a law firm’s reputation can hang in the balance. Make sure you’re not putting yourself at risk.