Monday, July 2, 2012

Information Risk, Cybersecurity & Law Firms

IntApp's Brian Lynch, chair of our Law Firm Compliance Consortium, sent word of a recent article in the Wall Street Journal: "Lawyers Get Vigilant on Cybersecurity" --
  • "As hackers step up attacks on law firms, attorneys are being forced to master a subject few of them studied in law school: cybersecurity."
  • "For hackers bent on insider trading, targets could include lawyers at top law firms that handle mergers and acquisitions, such as Cravath, Swaine & Moore LLP, Skadden, Arps, Slate, Meagher & Flom LLP or Davis Polk & Wardwell LLP, says Mr. Friedberg, a former federal prosecutor."
  • "But current and former law-enforcement officials say cyberattacks against law firms are on the rise, as criminals and state-sponsored hackers launch increasingly sophisticated sorties aimed at gaining access to the valuable information entrusted to law firms. 'We've seen specific documents from law firms on specific deals being exfiltrated from cyberattacks,' the FBI's Mary Galligan said in April at a law-firm conference in New York."
  • "Few law firms will admit publicly to a breach. Thefts of confidential information strike at the core of the legal profession's obligation to safeguard clients' secrets, and can do considerable harm to a firm's reputation."
  • "That sort of internal vigilance could soon become a professional duty for lawyers. A handful of bar associations across the country have told their members that keeping up with technology and taking reasonable steps to protect client information from being stolen are part of lawyers' ethical obligations."

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