The practice of law involves advising clients on the risks and benefits of potential courses of action. Lawyers must often serve as their own risk managers in managing their professional practices. Two of the primary risks involve maintaining the confidentiality of information relating to client representation and safekeeping the property of clients and third parties. These vulnerabilities have intensified due to the pervasive threat of cyber criminals who perceive law firms as repositories of valuable information and significant funds on behalf of clients and others.
Law firms face an increased threat of wire transfer fraud via social engineering schemes from cyber criminals. Read this article to learn more about wire transfer fraud and preparing for these realities prior to an attempt. Click here to read more.