Cybercrime Among Top 3 Global Risks For 2018

A report from the World Economic Forum has ranked cybercrime among the top three most likely risks that the world is set to face this year.


Highlighting the threat to both businesses and individuals, the Global Risks Report for 2018 warned against the risks of complacency, stressing that preparation would be key to preventing a cyber attack from taking place.

Commenting on the sharp growth in cybercrime and resulting costs for businesses, the WEF stated: ‘Attacks against businesses have almost doubled in five years, and incidents that would once have been considered extraordinary are becoming more and more commonplace. The financial impact of cybersecurity breaches is rising, and some of the largest costs in 2017 related to ransomware attacks, which accounted for 64% of all malicious emails.’

Also included in the report was the results of the Global Risks Perception Survey. This contained opinions and views on what the most prominent risks would be throughout the year, with growing cyber dependency highlighted as a key concern.

For firms, the results of this survey are significant, particularly when coupled with the recent proposals from the Solicitors Regulation Authority.

In an online world, better access to information is crucial, whether this is in terms of services, prices or legitimacy. With the risk of cybercrime at an all-time high, consumers are in search of assurance from their firm – not only in terms of service quality, but also that their transaction is not at risk of being intercepted.

Providing firms with market-leading risk management solutions, Lawyer Checker has a suite of products which comprehensively provide firms with an effective prevention strategy against the growing threat of cybercrime.

By using Lawyer Checker’s comprehensive system, professionals are able to gather further information on the firm they’re sending money to or the client that they’re dealing with. A proactive tool for firms, this enables them to better assess the risks associated with a transaction and help them to better protect client funds.

Do you know who’s on the other side of the transaction? Contact us to find out how Lawyer Checker could help protect your clients’ money in 2018.