News & Press: Industry News

3 Ways E-Discovery is Safer in the Cloud than On-Premise

Monday, November 14, 2016   (0 Comments)
Posted by: ACEDS Marketing Team
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Extract from article by David Greetham

We cannot deny that data breaches are on the rise. According to the Wall Street Journal, the number of breaches tracked by the national Identity Theft Resources Center is up, and the FBI is reporting a notable increase in ransomware. Meanwhile, New York State Attorney General Eric T. Schneiderman says data breaches in his state are up 40 percent over last year.

At legal technology industry conferences across the country, I hear rising concern about the potential for hackers to get at the collections of client data that law firms store and process for e-discovery. According to a 2016 study of data breach costs by the Ponemon Institute, the average cost of a data breach is now $4 million.

But more important than the financial loss would be the reputational damage to the firm, loss of clients and perhaps even litigation. What if a breach resulted in the loss of a client's intellectual property? Damages could be astronomical.

For the complete article as published in Legaltech© News, click here.

 


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