The Federal Bureau of Investigation is reportedly assisting the Manhattan U.S. attorney’s office with an investigation of alleged hacks into at least two major law firms in New York.
The firms included Cravath Swaine & Moore LLP and Weil Gotshal & Manges LLP, according to a Wednesday report in the Wall Street Journal. The firms handle business deals and other legal issues for banks on Wall Street and a range of Fortune 500 companies.
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In a statement, Cravath said the breach was “limited” and that it was “not aware” of any potentially stolen information being used improperly to date. Weil declined to comment, as did the relevant law enforcement officials.
Though the breaches occurred as early as summer 2015, they were not revealed until Tuesday’s report. And while the information has not been used, that may provide limited comfort to affected parties. Data stolen from large firms is often sold on the black market or used to leverage access into other networks.
Sources familiar with the case said the investigation was focused on the possibility of the information being used to conduct insider trading.
The FBI has issued several public alerts over the last year alerting consumers to the possibility of electronic fraud. In particular, the agency has noted, hackers have developed a propensity for targeting entities that have lucrative client lists, such as law firms or real estate practices. The breaches generally originate through phishing emails sent to company executives.
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According to Tuesday’s report, the security firm Flashpoint issued a pair of confidential alerts earlier this year about emails involved in such phishing scams targeted specifically at law firms. The FBI reportedly issued a confidential alert along the same lines within the last month.
