CRIF exhibits at Legalex 2019
On March 27 & 28, 2019, CRIF exhibited at the Legalex event in London, Europe’s most comprehensive and all-encompassing trade show for law firms and solicitors.
Over 3,000 legal professionals came together at the ExCeL to discover the latest tools, products, services, resources and innovations that are changing the game in legal business growth and data security. How the 5th Money Laundering Directive will affect law firms, what are the most common cyber threats (ransomware, phishing, vishing and smishing) and ways to face them, and the digital evolution were among the main topics of the 2-day event.
During the event, attended by more than 200 cutting-edge suppliers and with 150 educational seminars from some of the world’s top legal experts and innovative thinkers, CRIF presented Cyber Check, powered by KYND’s cyber risk technology, a cost-effective proactive response to cyber risk management for legal firms.
Cyber security and data breaches are an immediate concern for organisations of all sizes, but in particular for law firms, which deal with a considerable volume of sensitive information.
In the UK, more than £11 million of client money was stolen by cyber criminals between 2016 and 2017, and 60% of law firms reported at least one information security incident in 2017 – an increase of almost 20% on the previous year, according to ‘The cyber threat to the UK legal sector 2018’ report by the National Cyber Security Centre (NCSC) in collaboration with the Law Society, the Solicitors Regulation Authority, Action Fraud and the National Crime Agency.
Phishing, data breaches, ransomware and supply chain compromise are increasing trends, since law firms are particularly susceptible to cyber attacks and targeting by hackers because they manage very valuable and confidential data, such as trade secrets, intellectual property, and information related to future business deals, mergers and acquisitions.
CRIF offers legal professionals a cyber risk screening service (Cyber Check), which is quick and easy to use, since IT expertise is not required. Risk exposure and severity is immediately clear, and the user can prioritise the actions to be taken.
Legalex 2019, with a focus on Artificial Intelligence innovations, the effect of GDPR implementation on the efficiency of solicitors, the rise in Cyber Terrorism creating a gap in the market for cyber security firms, was the perfect context for CRIF to show how it can support British legal firms in overcoming some pressing challenges.