26.05.2017

The Solicitors Regulation Authority security report

The Solicitors Regulation Authority security report

Certain sectors of business are targeted more often by cyber criminals because the rewards are greater.

According to the Solicitors Regulation Authority (SRA) 75% of all cybercrimes reported to them have involved “Email Modification” fraud.

50% of all reports were related to “Email Modification” fraud against conveyancing proceeds.

25% of firms have reported being targeted by cybercrime with 1 in 10 cases resulting in monies being stolen.

The professional principles in the Legal Services Act (2007) include a duty to maintain client confidentiality. The SRA also require solicitors and law firms to keep the affairs of clients confidential unless disclosure is required or permitted by law or the client consents.

Frama and RMail can assist solicitors in securing their email communications along with GDPR compliance for this section of the GDPR 2018 regulations.

The facts

  • £2.3 billion was lost by global businesses from email fraud (2013-2015)
  • 75% of cybercrime reports to us are Friday afternoon fraud
  • 43% of all cyber attacks are aimed at small businesses
  • 9 security breaches in 2015 featuring more than 10 million personal records being exposed

Sources: Action Fraud, CRN, FBI, Symantec

http://www.sra.org.uk/risk/resources/information-security-report.page

Contact us today for a free consultation and find out how you can avoid these risks to your business.

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