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Countering the new cyber threat

Tom Draper advises firms on the growing danger of cyber crime and what they can do to build resilience

5 July 2017

Hackers are becoming ever more resourceful and creative in their efforts to exploit technology to perpetrate theft and extortion, and UK solicitors are one of the cyber criminals’ favourite targets. Firms do not have to be large to be at risk, nor does the use of the most up-to-date technology remove all vulnerability (although it helps). To minimise the threat of loss and disruption arising from cyber risks, a solid programme of risk mitigation supported by good insurance protection is now essential for all firms.

Cyber risks fall into two main categories. The first arises from the collection and storage of customer information, the second from firms’ reliance on IT systems for day-to-day operations. Hackers can steal and abuse data, or temporarily shut down companies that rely on IT systems to get even the most everyday tasks done. Whether hackers are after data or money, incidents begin with a systems brea...

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