Your chambers’ reputation is one of your biggest and most important assets. It is what will set you apart from stiff competition when securing clients. Aside from the obvious threats to personal information and sensitive data, a significant data breach can also tarnish your chambers reputation irrevocably.
As chambers grapple with the challenges of new and emerging technologies, such as implementing a cloud strategy, the issues of risk and compliance become even more complex.
When clients trust their personal data to a chambers, they expect it to be protected, so new technologies must fall in line with existing values of confidentiality, privacy and compliance, as failing to do so can cost chambers money and, crucially, their reputation.
Social media and an ‘always-on’ digital world means that news of a security breach or disruption can be spread pretty fast, and your reputation can be tarnished beyond repair within minutes.
How Will a Data Breach Cost You Clients?
We all know how expensive an IT breach or systems failure can be. It can cost chambers a crippling amount of money. But the cost of not protecting your client data goes further than pounds and dollars. The damage to your reputation can have much more far-reaching effects – negative media attention, expensive lawsuits. Failing to adequately protect data, quite simply, can cost you clients.
A recent Forbes report “Fallout: The Reputational Impact of IT Risk” revealed that 46% of organisations surveyed suffered damage to their reputations as a result of a cyber-security breach. If your Chambers suffers a security breach, and confidential, private information is leaked, those looking for representation are likely to be wary for trusting their own data to your IT system.
“When businesses fail to properly secure and manage their keys and certificates, there is a direct financial impact with lost customers and lost revenue”
The most common threats, ranked by the report in terms of reputational impact were revealed to be data breaches or thefts, data loss or manmade disasters. But many surveyed also cited human error as one of the greatest threats to reputational damage, as we’ve written before:
“We can secure the doors, we can button down the system, we can put on behaviour and insider threat detection and employ counterintelligence,” says Titus. “But we also have to remember how vulnerable an entire system can be to one person making a mistake.”
Any chambers that fails to deliver full compliance as regulated by the Bar Council and Attorney General, is at risk of losing reputation and clients. As specialists in providing IT security to the legal sector, we can guarantee that compliance, and that any client loss won’t come from poor IT security. Want to know more? Get in touch today!