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70 I N D U S T R Y I N S I G H T / H A R R I S O N E . T R O P P Foreclosure law firms have played an important role in the implementation of technology and have, in many ways, led the charge. Whereas traditional firms transmit an aura of forced conformity, the default sector has been seemingly receptive to technological progress. From the development of proprietary case management systems to installing paperless file and barcoding classifications, many firms have been receptive to exploring new efficiencies. Unfortunately, technological advancements do not always yield positive results. In the not too distant past, the thought of a law firm being infiltrated remotely by a third party seemed far-fetched, if not completely absurd. In an era of illicit creativity though, cyber-related crimes have continued to rise in recent years and now pose an existential threat to all companies, including law firms. THE FIVE FOLLIES Cybercrimes unfortunately do not fit a standard mold. According to Travelers Insurance, there are five specific types of threats, and understanding each type can better prepare a firm for a potential loss. 1. General Hacking: While it can be argued that all versions of cybercrimes involve some sort of hacking, this is perhaps the most basic one. Hacking occurs when a person gains access to information by way of weak or default passwords. Moreover, hackers can install malware to capture keystrokes, thus increasing the potential of a password being compromised. Cybercrimes pose an existential threat to all companies, including financial services law firms. But knowing what to do in the event of a loss can help mitigate it.