Industry Benchmarking & Trends

How Does Your Firm
Stack Up Against the Industry?

Data-driven cybersecurity benchmarks for law firms versus other sectors. Sourced from IBM Cost of Data Breach, Verizon DBIR, ABA Legal Technology Survey, and Coveware.

Key Trends Impacting Law Firms

+28%

Breach Costs Up 28% Since 2019

Average law firm breach cost rose from $3.9M to $4.8M over 5 years. Remote work expansion and cloud adoption increased attack surface significantly.

Source: IBM Cost of Data Breach 2023
207 days

207-Day Average Detection Time

Law firms take over 6 months on average to detect a breach โ€” and another 73 days to contain it. Unmonitored environments are the primary driver.

Source: IBM / Mandiant M-Trends 2023
$150K avg

BEC Most Costly Attack Vector

Business Email Compromise attacks cost law firms an average of $150,000 per incident โ€” and 71% of law firms have experienced at least one BEC attempt.

Source: FBI IC3 2023, ABA TechReport
31%

Only 31% of Firms Use MFA

Despite MFA being the single highest-ROI security control, fewer than 1 in 3 law firms have fully deployed it โ€” creating a massive exploitable gap.

Source: ABA Legal Technology Survey 2023
40% faster

Regulated Industries Recover 40% Faster

Financial services firms with mature security programs recover from incidents in 17 days vs. 28+ days for less-regulated industries like law and real estate.

Source: Coveware Q4 2023
+89%

Ransomware Payments Up 89% in 2023

Average ransomware payment reached $568,000 in Q4 2023. Law firms are disproportionately targeted due to high-value client data and historically low security investment.

Source: Coveware Quarterly Report Q4 2023

Industry Comparison โ€” Select a Sector

โš–๏ธ

Law Firms

Top Threat: Business Email Compromise
Avg Breach Cost
$4.8M
Annual Breach Rate
29%
Avg Detection Time
207d
Avg Recovery Time
23d
MFA Adoption31%
EDR Deployment28%
Backup Testing34%
IRP Documented22%
Security Training41%
ABA TechReport 2023, IBM Cost of Breach

Law Firms โš–๏ธ vs Law Firms โš–๏ธ

Avg Breach Cost
$4.8M
Law Firms
$4.8M
Law Firms
โ€”
Breach Rate
29%
Law Firms
29%
Law Firms
โ€”
Detection Time
207d
Law Firms
207d
Law Firms
โ€”
MFA Adoption
31%
Law Firms
31%
Law Firms
โ€”
Security Training
41%
Law Firms
41%
Law Firms
โ€”

Security Control Adoption Matrix โ€” Law Firms vs. Best Practice

Security Controlโš–๏ธ Law Firms๐Ÿฆ Finance๐Ÿฅ HealthcareGap
MFA Deployed31%78%52%-47pp
EDR/XDR Endpoint Protection28%71%49%-43pp
Backup Tested Monthly34%69%51%-35pp
Incident Response Plan Exists22%82%61%-60pp
Security Awareness Training41%85%72%-44pp
24/7 Network Monitoring19%74%58%-55pp
Cloud Security Hardening25%67%44%-42pp
Cyber Insurance (Adequate)48%91%77%-43pp
pp = percentage points. Sources: ABA Legal Technology Survey 2023, IBM 2023, Verizon DBIR 2023.

Law Firm Breach Cost Trend (2019โ€“2024)

$3.9M
2019
$3.9M
2020
$4.2M
2021
$4.3M
2022
$4.8M
2023
$5.1M
2024e
Actual
Estimated
Source: IBM Cost of Data Breach Report (annual). Law & professional services sector.

See How Your Firm Compares

These are industry averages. A Sentry security assessment gives you a precise picture of where your firm stands โ€” and a custom roadmap to get above the benchmark.