A new article about Vendor Risk Management for Law Firms features Block Ransomware team member John Stambelos, CEO of Stambelos Consulting and Former Director of IT at Munger, Tolles & Olson LLP.
The article goes on to warn:
Most firms have extensive cybersecurity measures in place, but emerging or unclear regulatory requirements embroil them in a never-ending cycle of evaluation, best-practices review, and implementation. Firms don’t just need to have their own systems secured; a responsible rm must also reduce the risk of breach at their third-party vendors. As cloud service providers become commonplace, so too does a rm’s responsibility to ensure their vendors are managing risk appropriately.
In the article John goes on to state:
Business efficiency and price are no longer the only key factors in vendor evaluation, security must have an equal weight in the decision-making process. Your clients demand it and new regulations are emerging across multiple industries.
To download and read the full article from Law Journal Newsletters, click here to download the PDF or click here to view the article online.