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27 January 2023 / Frank Maher
Issue: 8010 / Categories: Opinion , Risk management , Legal services , Cyber , Fraud
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2023: Challenges & risks ahead

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Cybercrime crackdown & anti-money laundering action: Frank Maher looks to the year ahead & runs through the key risks for law firms to keep in mind

Many of the common challenges for law firms in 2023 remain similar to those seen in previous years, but two key areas of potential risk—cybercrime and money laundering—are becoming increasingly more significant as we look to the months ahead.

Eyes on cyber

No firm is too small to be targeted: the client data we hold is valuable, and there is an increased risk of ransomware attacks since the invasion of Ukraine. The Solicitors Regulation Authority (SRA) reported a reduction in client losses from cybercrime at the COLP & COFA conference in November 2022, but that is not a reason for complacency. Numbers of attacks have increased in the business world generally, and Miller Insurance noted in their Review of the 1 October Renewal Season that there has been a number of payment diversion fraud and invoice manipulation losses. Meanwhile Howden Insurance Brokers’

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MOVERS & SHAKERS

Boodle Hatfield—Tom McLaughlin

Boodle Hatfield—Tom McLaughlin

Boodle Hatfield welcomes new employment partner, Tom McLaughlin

Arc Pensions Law—Victoria Thompson-Hill, Jonathan Mason & Georgi Ivanov

Arc Pensions Law—Victoria Thompson-Hill, Jonathan Mason & Georgi Ivanov

National specialist pensions law firm strengthens team with three new appointments

Jurit—Christian Abletshauser

Jurit—Christian Abletshauser

Jurit appoints Christian Abletshauser to lead family law practice

NEWS
Burges Salmon appoints Benn Richards to strengthen Contentious Insolvency offering
A High Court decision has clarified that a home may be unfit for human habitation not only where conditions endanger health or safety, but also where they seriously undermine comfort and convenience

A longer time limit for employment tribunal claims, new charity law thresholds, property tribunal recruitment and appellate guidance on small-claims costs feature in the latest Civil Way round-up

A recent High Court ruling could make issue estoppel considerably more complex in cross-border litigation, requiring parties to consider the foreign law governing the underlying claim
The Supreme Court has overturned Cheshire West’s bright-line test for deprivation of liberty, replacing it with a broader, more contextual assessment that gives greater weight to an individual’s wishes, feelings and apparent consent
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