The regulator has warned firms to be “more vigilant than ever” in the face of key risks in the covid-19 climate.

The warning comes as the Solicitors Regulation Authority (SRA) released its latest risk outlook (2020/2021) which highlights that money laundering and cybercrime attacks increased during the first half of 2020.

During the first two months of lockdown there was more than a three-fold increase in phishing scams and the SRA warned of similar spikes likely as covid vaccines come online.

According to the SRA, in the first half of this year firms reported to it that nearly £2.5m of money held by firms had been stolen by cybercriminals, more than three times the amount reported in the first half of...

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