Banks and Law Firms Take a Stand Against Cyber Terrorism

For the past year, discussions amongst banks and law firms have circled around the creation of a group that shares information about threats from cyber hackers and online criminals. This group will likely be established by the end of 2015.

According to the New York Times, “Federal authorities, including President Obama, are pressing companies to share information about hackings with one another and law enforcement as way to deter the theft of information about consumers and employees.”

Data breaches that occur in banks and law firms expose highly sensitive information, company secrets, business strategies and more. Hacking into a repository of delicate information is an increasing concern in the United States, with cyber criminals growing stronger in their abilities every day.

“The law firm group under consideration would be set up as an organization to share and analyze information and would permit firms to share anonymously information about hackings and threats on computer networks in much the same way that bank and brokerage firms share similar information with the financial services group,” the article went on to say.

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