Cyber crooks hit British law firms, steal over £20 million of client money
08 Aug 2018

UK law firms are increasingly coming under attack from cyber criminals, with attacks costing law firms millions, according to the legal fraternity’s watchdog.

Reports of cybercrime are up 50% year-on-year, reaching a record level of 157 reports for 2017, the Solicitors Regulation Authority (SRA) explained.

These cases have brought the total reported client money stolen by cyber criminals to more than £20 million in just two years.

SRA Chief Executive Paul Philip said: “Although we know that very few solicitors would ever knowingly become involved in criminal or dishonest schemes, everyone needs to know the warning signs to look out for.

“It is important that law firms take steps to protect client money and information. Our recent warning notices on money laundering and dubious investment schemes aim to help them in this.”

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