Wall Street and law firms to share cyber threat information to strengthen online security

  • Team Omega
  • February 26, 2015

A recent article on the New York Times reported that Wall Street firms and law firms are in talks to strengthen their online security by sharing threat information.

Discussions have been ongoing for a while now, and briefings from several in the group said, ‘talks would most likely lead to the establishment of such a group by the end of the year, a recognition that hackers are increasingly focusing on big law firms to glean information about their corporate clients.’  One of the security firms, Mandiant, a division of FireEye, told the New York Times that many of ‘the bigger hackings of law firms had ties to the Chinese government, which was seeking information on patent applications, trade secrets, military weapons systems and contract negotiations.’

‘Earlier in February, President Obama signed an executive order encouraging the private sector to set up cyberthreat sharing and analysis organizations similar to the FS-ISAC. The order also directs the Department of Homeland Security to set up a non-profit organization that would develop a common set of voluntary standards for these organizations.’

Download guide to understand more about data security and safeguarding the network in your enterprises.

For the entire article read the report from NYT.