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Poll: The Biggest Data Security Threats to Businesses and Law Firms in 2016

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Data security threats are becoming a larger and larger concern for major institutions, especially in the M&A and deal making space, but there’s a lack of clarity on how to prepare for these threats and combat them when they come up. We polled 152 professionals to get some answers.

Published in: Business

Poll: The Biggest Data Security Threats to Businesses and Law Firms in 2016

  1. 1. Poll: Data Security Threats in 2016
  2. 2. Data security threats are becoming a larger and larger concern for major institutions, but there’s a lack of clarity on how big the threats are and how to fight them. We polled 152 business and legal professionals to get some answers. These are the results.
  3. 3. 85.4% of respondents believe that the threat of cyber attacks has increased in the past year.
  4. 4. One in five respondents reported that a cyber attack has already affected their company’s bottom line.
  5. 5. Among those, the majority come from M&A-related professions. This reflects recent trends of hackers increasingly targeting deal information.
  6. 6. 65.1% of respondents said their institution has increased cyber security measures in the past year.
  7. 7. However, only 42.8% of respondents have received cyber security training. This is especially alarming since the majority of security breaches can be traced back to current employees.
  8. 8. Additionally, despite the widespread use of email hacking against businesses, only 31.6% of respondents believe that email is not secure.
  9. 9. With mounting data security risks across the boards, it’s essential for businesses and law firms to do more to combat data breaches. This means adopting secure communications and document sharing programs, tuning up security infrastructure, and training employees in cyber security best practices. Only with an institution-wide approach can companies avoid significant threats to their bottom line. Click below to learn more about Firmex virtual data rooms for M&A deals, law firms, and corporate data sharing.
  10. 10. Thanks for reading and sharing

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