A number of law firms have been in the news because private information was leaked to the public. This type of event, as well as multiple search engine rollbacks (after private information was uncovered through internal searches) and HIPAA compliance initiatives, have caused firms to focus on data security, confidentiality and control across systems. Ongoing management of ethical walls, legal holds, data transfer agreements and data from lateral lawyers add to the need for secure systems. The traditional areas of risk including records, conflicts, new business intake, finance, employment and IT disaster recovery, are areas where investments in people and technology continue to be sustained. The pressure to deal with risk effectively is increasing as more assets are vulnerable and the consequences are more severe. For now, risk management efforts are focused on the events that create risks to the firm’s data, image and profitability, and many of these revolve around the IT department.Read More
