Major Law Firms Hacked
On March 29, 2016, it was reported that hackers infiltrated the systems of major U.S. law firms last summer, including Cravath, Swaine & Moore and Weil, Gotshal & Manges. Federal law enforcement is investigating the hacks, which likely sought confidential information of publicly-traded companies for the purpose of insider trading. The extent to which the compromised data has been used improperly is not currently clear. This news comes after it was determined last fall that about 25 percent of law firms with at least 100 attorneys and 15 percent of all law firms have experienced a data breach at some point.
Perhaps due to the seemingly rising prevalence of data breaches, law firms generally appear to be taking cybersecurity more seriously, as, relative to last year, 77 percent of law firms claim to be more concerned about cybersecurity.
