Hackers are probably more sophisticated than the guy in this stock photo.
Summary: Large law firms were hacked last year, and authorities warn it can happen again.
The Federal Bureau of Investigations is probing last year’s law firm hackings and the threats that more breaches will occur. According to the International Business Times, hackers stole confidential data from computer systems of some of the biggest law firms, including Cravath Swaine & Moore and Weil Gotshal & Manges. The FBI believes the hackers plan to hack again.
The firms hacked represent Wall Street banks and Fortune 500 companies. According to Law Crossing, Cravath Swaine & Moore has 570 attorneys and two offices, its largest in New York City; and Weil Gotshal & Manges has 1212 attorneys and 21 offices.
Additionally, authorities say that the hackers targeted other firms to possibly steal data for insider trading, but because hackers steal a large quantity of data, experts say it is difficult to prove that insider trading occurs.
Cravath Swaine & Moore spoke to The Wall Street Journal and confirmed they were hacked. They said there was a “limited breach” of their data but that they were unaware if any of the information was used improperly. Weil Gotshal & Manges declined to comment.
The FBI is working with the Manhattan U.S. Attorney’s Office to investigate the hackings, and they issued a report earlier this year that more attacks could occur. Flashpoint, a security company, echoed the FBI’s warning. Earlier this year, they issued their own report to law firms that there was another threat aimed at them.
Source: The International Business Times