A Guide to AML for Law Firms
A Guide to AML for Law Firms While law firms are not technically what many would class as financial institutions, they are still obligated to establish and maintain an effective anti-money laundering (AML) compliance program. As law firms provide professional services that may be used to facilitate money laundering and other financial crimes, they are […]
Preparing for the Future, Securing Clients from Younger Generations
Preparing for the Future, Securing Clients from Younger Generations The foreseeable future of legal consumers is that of Generation X, Millennials and Generation Z. Firms that do not prepare to cater to the interests and sensitivities of these younger age groups risk falling behind their competitors. It is most likely that the demands of younger […]
How Law Firms are Integrating Cloud Data Protection
How Law Firms are Integrating Cloud Data Protection Cloud data protection is a model focused on organizational data stored, manipulated, and managed in a cloud or hybrid environment. The model requires many data policies, strategies, and solutions to work in tandem. Data protection protects an organization’s data from compromise, loss, or theft. While traditional data […]
How to Manage a Law Firm’s Internal Fraud Risks
How to Manage a Law Firm’s Internal Fraud Risks When it comes to law firms, there is no such thing as being too careful when safeguarding against internal fraud risks. Since 2019, almost 19,000 reports of thefts undertaken by an employee were reported, and that’s just the losses detected. Out of the 45 police forces that […]
How to Prepare a Law Firm for an SRA Audit
How to Prepare a Law Firm for an SRA Audit As a law firm, you should be aware of the Solicitors Regulation Authority’s (SRA) rules and regulations surrounding audits. The SRA regulates law professionals who manage client money in England and Wales and ensures that they comply with professional standards[1]. It is always best […]
How to Manage more Pro-bono Cases and their Benefit
How to Manage more Pro-bono Cases and their Benefit One of the most common terms bandied about in standard mainstream media depicting lawyers is that of ‘pro bono’. Indeed, the popular legal drama Suits (which Robert Hanna’s legally speaking podcast makes a point of regularly riffing on as an icebreaker) frequently uses pro bono as […]
UK Legal Market Trends and How This Affects Trade
UK Legal Market Trends and How This Affects Trade The UK legal market is one of the most challenging and competitive in Europe. However, despite the uncertainty caused by Brexit and a number of other factors, the market continues to grow. The latest statistics show that revenues are on an upward trend for most legal […]
The Impact of Legal Technology on In-House Legal Departments
The Impact of Legal Technology on In-House Legal Departments According to a recent survey conducted by Statista, almost 3.9% of an in-house legal department’s budget was spent on legal technology in 2020 [1]. It is further predicted that this budget is likely to increase by 12% by 2025 [2]. Moreover, research conducted by technological research and consulting firm, Gartner, […]
How Legal Technology is Cutting Law Firm Overheads & Costs
How Legal Technology is Cutting Law Firm Overheads & Costs The main selling point of legal technology is the increased efficiency and cost savings it brings to the table. Despite this point being emphasized by legal technology providers, many lawyers still believe that incorporating legal technology solutions is a huge investment that is inconvenient and […]
What Can Law Firms do to Defend against Cyber-Security Attacks?
What Can Law Firms do to Defend against Cyber-Security Attacks? Cybersecurity has become a critical issue for the reliability and growth of public and private organisations of all sizes and types. The development of technology and the increasing use of the cloud have made digital information assets a crucial but equally vulnerable asset. With all of the sensitive and frequently personal […]
