No surprise that the FBI is warning law firms that they are cybertargets for insider trading

19 April 2016 Internet, IT & e-Discovery Blog Blog
Authors: Peter Vogel

A FBI Privacy Industry Notification identified in “a recent cyber criminal forum post an advertisement to hire a technically proficient hacker for the purposes of gaining sustained access to the networks of multiple international law firms.” Bloomberg BNA reported about the March 4, 2016 FBI Notification entitled “FBI Alert Warns of Criminals Seeking Access to Law Firm Networks” but the FBI did not share the name of the forum or when it was posted, however BNA identified the ‘Panama Papers’ Spill Insider Secrets’ were leaked by the “11.5 million records from the Panama-based law firm Mossack Fonseca.”

Data Breach Today reported that the 2.6-terabyte of “leaked data originated from Mossack Fonseca & Co., a Panama-based law firm that has more than 40 offices worldwide, including in the Bahamas, China, Columbia, Israel, the Netherlands, Singapore, Thailand and the United Kingdom” and revealed:

…how the shell companies have been used to launder extensive amounts of money, including $2 billion that’s been tied to banks and shadow companies linked to associates of Russian President Vladimir Putin,…

All law firms need to be vigilant since they have always been targets since they have client secrets, even apparently not all law firms admit such intrusions.

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