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The Risks And Effects On Law Firms If An Accounting Email Is Sent To The Wrong Email

Sunday 24th May 2020

Have you ever fallen victim to having your email sent to the wrong recipient in the past? Many large outsourcing accounting firms might lose attention to detail when having extensive firms to provide services for and are trying to cut time by doing things quickly. Here at LBM, our main goal and structure are to offer a personal service to each of our clients.

One of the main problems that legal firms have today is that it is easy for data to be lost, shared, or stolen thanks to the electronic systems. Having a minor breach from time to time might be impossible to stop, and most of these breaches can be immediately rectified.

According to a survey, 32% of businesses admitted to accidentally sending an email to the wrong client. Unfortunately, when we talk about financial information, things are more complicated.

Outsource accounting firms have confidential information that should be kept safe and secure at all times. The consequences of unauthorized people accessing this information can be devastating from identity theft problems to loss of irreplaceable data.

When accounting data is sent to the wrong email, it creates confusion in the law firm, doubting the reliability or accuracy of all financial data.

It is not surprising that email fraud is the number one threat for law firms as it is one of the most common ways of communication. The truth is that emails are used because they are faster and easier to attach documents and files.

However, it is this facility of use that usually creates problems as it can easily be sent to the wrong recipient, or your outsource accounting firm can easily have the incorrect attachment sent.

For many law firms, emails have become both the most effective way of communication as well as the primary risk of a security breach.

The most common risks of sending emails to the wrong person are:

● Fraud and Cyber Crime
● Confidentiality
● Cyberbullying
● Misunderstandings
● Discrimination
● Time Management

The problem is that for many legal firms and outsourced accounting companies, there is no alternative as they need to use emails to communicate and send important information. For that reason alone, it is critical to ensure that everyone working with the firm, especially accounting outsourced companies, understands the risks and knows how to avoid them and stop these risks from happening.

How To Prevent Email Breaching?

Most of the time, emails are sent to the wrong person because large outsource accounting firms configured their email to be sent out an email automatically due to the lack of time. When you hired an outsourced accounting firm such as LBM, you know you will have a fully dedicated team protecting your financial information and providing your law firm with the best possible service. We also aim to minimise the need for constant emails by using Link-app an DocHub.

When you work with a team of dedicated and bookkeeping and accounting professionals, you can be sure your law firm will have the support you deserve to keep your financial information safe at all-times.