The global average cost of recovery from a ransomware attack more than doubled from $970,722 CAD in 2020 to $2.3M CAD in 2021. As cyber criminals become more sophisticated, experts expect this trend to continue upward.
The financial, legal, and reputational consequences of a ransomware attack are often devastating for a law firm. The good news is a proactive ransomware strategy can ensure you'll never have to go through this harrowing experience.
At a recent webinar, held exclusively for law firms, Ricoh addressed the threat of ransomware and shared how firms can enhance their protection of confidential client data and maintain quality client service under the increasing threat of ransomware.
Panelists also discussed how ransomware attacks impact confidential legal data; ways to identify and remediate current vulnerabilities; and new technologies that can support a firm's pre-existing security measures.
Law firms under attack
Ransomware is prevalent across all industries, however, law firms are prime targets because of their sensitive data, often inadequate cyber security protection, and a willingness to pay up.
With many firms adopting a hybrid work model, employees are regularly accessing the firm network and interacting with client data on different devices in and outside of the office. Cyber risks increase significantly, increasing the complexity of endpoint security.
For your clients, trust is everything. A security incident can breach that trust, damage your relationships with clients, and even the reputation and integrity of your firm.
More and more, clients are requesting security audits when working with third-party partners, and external counsel is no exception. If corporate is part of your client base, your firm's security policies and infrastructure are now critical elements of business development, and can mean the difference between winning and losing a client.
A last line of defence
Ensuring strong endpoint protection is a critical first step, but even the most sophisticated anti-virus protections aren't always enough to beat ransomware. Consider implementing an additional layer of protection that stops ransomware in its tracks before the attacker can gain leverage.
In Ricoh's webinar, firms were introduced to an innovative new cyber security concept that's become a game changer in the fight against ransomware: a form of remediation called ransomware containment.
Ricoh's ransomware containment solution, RansomCare, which is powered by BullWall, complements your existing security infrastructure by adding a critical layer to mitigate damage should it get in.
BullWall demonstrated the solution by simulating three types of ransomware attacks, showing exactly how it works, immediately containing ransomware spread and preventing cyber criminals from accessing files on the network.
Watch the webinar recording to learn how your firm can enhance protection against this malicious threat.
RICOH empowers digital workplaces by enabling individuals to work smarter. Through our portfolio of innovative technologies and services, we support organizations, law firms and corporate legal departments in their journey towards digital transformation and better business outcomes. Let us help you redefine work and change. For better.
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