Whilst most law firm leaders reading this will dismiss the risk, it has been reported from the US that two magic circle firms were among 48 top firms to be targeted by attackers seeking inside information on mergers and acquisitions. A key weak point of these firms is the senior partners who fail to adhere to the security measures rolled out at the firm.
The Hackers are believed to be attempting to steal information relating to mergers to facilitate insider trading it is reported that the attacks originate in Russia.
New York security firm Flashpoint has issued an alert warning that a Russian cyber criminal had targeted 48 elite firms, including Hogan Lovells, Allen & Overy and Freshfields, to steal information on mergers for insider trading. Flashpoint would not comment on details of the alert, but said it had passed details to the relevant law enforcement authorities.