Law firms possess an enormous amount of data ranging from personal identifiable information to data related to a specific regulatory rule. Large institutions and federal agencies are mandating that law firms upgrade their approach to data security, privacy and transport.
Before potential clients accept an agreement to begin services, they are concerned with the handling of data within the law firm, and if the firm shares such data with third parties, data transport also becomes a point of concern.
Let the professionals at The Knox Corps guide your entity to compliance and set forth strategies to mature the Information Security Program while driving down business cost and increasing efficiency.
The legal industry is one of the most complex industries because a law firm can house data that contains financial, healthcare, credit card, and other identifiable business and personal information, US privacy and more. Given the sensitive nature of this information, firms are required to secure and protect this data carefully and the required protections may vary based on the client’s specific industry. Another dimension to legal information security is the proliferation of mobile devices, applications, emails, servers and other digital tools and systems which transmit, receive, and store sensitive information electronically.
While these measures improve customer service, increase firm efficiency, and expedite requests for historical data (among other benefits), this trend also introduces an enormous amount of risk to the firm.
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Regulatory and Frameworks
The Legal sector houses a multitude of data sets ranging from personal identifiable information, credit card information, financial information, medical information, intellectual property and many more and these data sets translate to regulatory mandates.
Regulatory fines can get to be very complex when equating risks to dollars. At times, the total cost for a breach might exceed to what the business is worth. Regulators mandate that fines are received 30 days after their initial report.
Breaches lead to reputational damage that equate to losses and eventually the non-existence of your business. Hackers are not your only enemies, your competitor could be an enemy.
It is time to protect your business and the identities of your customers, contact Knox!
1. Seek a Risk Assessment of the firm that covers the multiple regulatories.
2. Seek an experienced Chief Security Officer.
3. Seek Board involvement and investment.
4. Prioritize risk by numbers and impact to the firm.
5. Implement a security framework consistent with policies and procedures.
6. Contact The Knox Corps to plan and execute the identification and remediation of risk today!
For more comprehensive information, contact us!
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