Authored by Sara Weathers
Cybercriminals are becoming more sophisticated, and law firms remain prime targets due to the sensitive client data and financial transactions they handle. Phishing and social engineering scams continue to evolve, making it crucial for firms to remain vigilant and prepared.
Common Scams Targeting Law Firms
· Email Phishing: Fraudulent emails disguised as client communications, court notices, or vendor invoices are increasingly difficult to spot. Attackers often mimic real names, logos, and writing styles to deceive recipients into clicking on malicious links or sharing their credentials.
· Business Email Compromise (BEC): These scams involve impersonating partners, firm leadership, or clients to request urgent wire transfers or payment changes, often exploiting trust and time pressure.
· Voice and Text-Based Scams: Social engineering now extends beyond email. Phone calls, voicemails, and text messages may appear legitimate, but they are often designed to extract sensitive information or prompt a quick action.
· AI-Enhanced Deception: Deepfake voices and realistic AI-generated messages are making scams more convincing than ever, increasing the risk of unauthorized access and financial loss.
How Law Firms Can Reduce Risk
- Train staff regularly to recognize red flags and verify unusual requests.
- Implement multi-factor authentication and secure payment verification procedures to enhance security.
- Limit access to sensitive systems and client data to ensure confidentiality and security.
- Establish clear protocols for handling financial or data-related requests.
Where Cyber Insurance Fits In
Even with strong prevention measures, no firm is immune. Cyber liability insurance can help cover costs associated with data breaches, ransomware, business interruption, forensic investigations, and client notification, providing critical support when an incident occurs.
Staying informed and proactive is essential as phishing and social engineering scams continue to evolve. The right combination of employee awareness, cybersecurity controls, and insurance coverage can help law firms stay protected this year and in the years to come.
