2024 Professional Services Threat Landscape

Professional services firms, including legal service entities, are prime targets for cyberattacks due to the wealth of sensitive data they hold. This treasure btrove includes intellectual property, financial information, legal documents, and personal client details. Such data is a goldmine for cybercriminals seeking financial gain, identity theft, or a competitive edge. A cyberattack can severely damage a professional services firm’s reputation, as clients entrust them with keeping their data confidential and secure.

The consequences of a cybersecurity breach in this sector can be catastrophic. Financial losses from recovery efforts, legal fees, and potential fines are compounded by the severe reputational damage that erodes client trust and future business. Operational disruptions, employee stress, and increased regulatory scrutiny further exacerbate these challenges. As a result, robust cybersecurity is a critical priority for these information-rich firms.

To ensure comprehensive coverage, this report examines cybersecurity challenges facing professional service firms, including legal services, consulting services, and accounting services. While a broad coverage area, the sector encompasses businesses that