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Last month, another major cyberattack on a law firm made headlines once again. A cybercriminal ring stole a huge cache of data from a major media and entertainment law firm. The hacker group initially demanded a $21 million dollar ransom for the stolen private documents, which then doubled to $42 million. This was a law firm with on-site IT support and sophisticated safe guards that now has their name splashed across the news creating a publicity nightmare, reputational free-fall and sleepless nights for all of their clients.

While blockbuster data breaches against household names tend to make the news, attacks against smaller organizations are now so frequent that they are no longer newsworthy. In the most recent Verizon Data Breach Investigations Report, for example, 58% of victims were categorized as small businesses.

Cyber threats are rapidly evolving and there are a plethora of ways in which attackers can access networks. As protectors of sensitive information, it’s important that law firms are conscious of IT security and take steps to protect themselves from threats.

                          TITLE: Cyber Threats: How to Make Your Firm Resilient to Cyber Risk
                          PRESENTER: Adam Abresch, CIC, CCIC, CLCS
                          DATE: Thursday, June 25, 2020
                          TIME: 12PM to 1PM PST
                          COST: FREE for SDCBA Members ($25 for Non-Members)

In this FREE webinar, you will learn more about:

• The Numbers behind Cyber Risk
• What’s at Risk for your firm
• The Cost of a Cyber Breach
• The Solution

You will also receive a Cyber Risk Exposure Scorecard to better understand where you may be vulnerable to the new reality of cyber criminals.

Cyber awareness and protection is becoming essential for law firms of all sizes and areas of practice. We hope you can join us for a very informative hour!

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As the Cyber Risk Practice Leader at Acrisure, Adam is responsible for designing custom Cyber, Crime and Technology solutions for Acrisure clients across the globe. Adam is also a guest lecturer at Fordham University, Hofstra University and leads Cyber Liability education for over 250 Acrisure Partner Agencies throughout the country.

Adam is a frequent speaker and thought leader on Cyber Risk, including featured presentations at NetDiligence, the Professional Liability Underwriters Society (PLUS) Cyber Conference and the New Jersey and New York City Bar Associations. Adam graduated from the University of North Carolina at Chapel Hill and maintains a Certified Insurance Counselor designation (CIC), Cyber COPE Insurance Certification from Carnegie Mellon/Chubb and was the recipient of NetDiligence’s 2019 Toby Merrill Rising Star Award.

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The federal prohibition of marijuana under the Controlled Substances Act creates thorny ethical issues for attorneys representing clients in the cannabis industry in the twenty-nine states that have legalized medical marijuana and the eight states that have legalized recreational marijuana. The Rhode Island Ethics Advisory Panel Op. 2017-01 recently joined other states in concluding that attorneys may ethically advise clients on all matters related to a particular state’s medical marijuana law, as long as attorneys also advise clients regarding the federal law. Although there is a growing consensus among courts and ethics committees that attorneys representing clients in the marijuana industry are not in violation of the applicable state rules of professional conduct, these rules and opinions do not protect lawyers who assist clients in the operation of marijuana-related businesses in ways which might contravene federal laws. Actively assisting clients in the marijuana industry may be illegal under federal law, and therefore has the potential to result in criminal liability for violation of the Controlled Substances Act, aiding and abetting criminal conduct (18 U.S.C. § 2), or money laundering (18 U.S.C. §§ 1956, 1957). While the Cole Memorandum provides some protection against federal prosecution for legal marijuana businesses that adhere to their state’s regulatory framework, it does not provide legal protection for service providers to the industry, including attorneys. Indeed, the Cole Memorandum expressly states that state law does not provide a legal defense to a violation of federal law, including a civil or criminal violation of the Controlled Substances Act.

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This Risk Management Tip is brought to you by AXA XL and Hinshaw & Culbertson, LLP, leaders in risk management.

AXA XL is the #1 global commercial property and casualty insurer with combined GWP of 17.6 billion in 2017. AXA and its principal insurance subsidiaries have the following insurer financial strength ratings as of December 2018: A+ A.M. Best, AA- Standard & Poor’s, AA- Fitch and, A1 Moody’s.