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2023: Challenges & risks ahead

27 January 2023 / Frank Maher
Issue: 8010 / Categories: Opinion , Risk management , Legal services , Cyber , Fraud
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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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NEWS
Paper cyber-incident plans are useless once ransomware strikes, argues Jack Morris of Epiq in NLJ this week
In this week's NLJ, Robert Hargreaves and Lily Johnston of York St John University examine the Employment Rights Bill 2024–25, which abolishes the two-year qualifying period for unfair-dismissal claims
Writing in NLJ this week, Manvir Kaur Grewal of Corker Binning analyses the collapse of R v Óg Ó hAnnaidh, where a terrorism charge failed because prosecutors lacked statutory consent. The case, she argues, highlights how procedural safeguards—time limits, consent requirements and institutional checks—define lawful state power
Michael Zander KC, emeritus professor at LSE, revisits his long-forgotten Crown Court Study (1993), which surveyed 22,000 participants across 3,000 cases, in the first of a two-part series for NLJ
Getty Images v Stability AI Ltd [2025] EWHC 2863 (Ch) was a landmark test of how UK law applies to AI training—but does it leave key questions unanswered, asks Emma Kennaugh-Gallagher of Mewburn Ellis in NLJ this week
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