Law firms will start sharing security data to prevent attacks

Gigaom

It’s clear that big banks provide a lot of incentive for hackers to launch cyber attacks, given the amount of sensitive data they hold and the cash they oversee. But banks aren’t the only entities hackers are targeting. The law firms that represent financial institutions are also subject to attacks, and as a result a group of law firms is banding together to share security data in order to prevent attacks, according to a New York Times report.

The data held by law firms is a treasure trove for hackers because it includes some of the most secretive aspects of companies, including their business operations, deal making and legal disputes. However, the general public may not be aware of law firm hacks because the firms are private entities and don’t have to abide by the same set of rules as public companies, especially when it comes to disclosing their…

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