Document Vault Blog
Until now, a virtual data room or VDR has been regarded largely as a tool to be used in M&A transactions and occasionally for litigation. There is one single reason, however, why they should be in more general use throughout the legal sector - Security.
As a lawyer operating in a UK law firm, it is more than likely that you share confidential data with clients on a day to day basis, regardless of whether you are preparing someone's will, handling probate for a recently bereaved customer or managing the sale of a house or property.
It is also likely in this digital age, that you share some or all of this confidential information via email. You have probably been doing this for years without any issue, so why should you change? The answer is, in a world increasingly concerned with cyber security, data protection and legal compliance, it is prudent to do so. In a nutshell, email is not secure.
Email is a convenient means for quick and easy communication. It is not nor was it ever intended to be secure. There are numerous reasons for this:
- Emails are sent as raw text with or without attachments.
- Whilst the emails might be encrypted during transfer using SSL, they tend to be stored on the servers prior to delivery to your inbox in unencrypted format.
- The chances are that your email will be stored on the server for some considerable time. If you are using IMAP as the delivery protocol, they certainly will be. Even if using POP3, the default setting is to store the emails on the server for 14 days or more.
- Whilst servers are designed to be secure, you can't ignore the human element, a disgruntled staff member, a hacked server or a malware attack.
- Many individuals choose week passwords for their email accounts, which means they are easily hacked.
- The use of Wireless networks adds further vulnerability to the sending and receiving of emails.
Why would you take the risk?
A virtual data room is a small investment to make to protect the information you share with your customers. You can still continue to send emails, only the confidential documentation will be stored in the vault.
Document Vault Systems offers a completely managed service for the set up and maintenance of a data room for sharing confidential information with anyone you choose, whilst limiting their access only to the documents which they are entitled to see.