As big cyber attacks continue to strike companies globally, Wall Street banks and the big law firms that represent them have been cooperating to share “basic information about digital security issues.”

 

Over the last year banks and law firms have been contemplating the creation of a legal group, which would be “affiliated with the banking industry’s main forum for sharing information about threats from hackers, online criminals and even nation states — the Financial Services Information Sharing and Analysis Center.

The creation of such a group is viewed as an urgent requirement as “hackers are increasingly focusing on big law firms to glean information about their corporate clients.” The organization would allow law firms to share and analyze information about hacks and other cyber threats “the same way that bank and brokerage firms share similar information with the financial services group.”

The New York Times has the whole story.

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