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Nov
10

Firms step up cybersecurity practices as attacks rise

From: Crain’s New York Business

Eyes turn to test of financial sector this month as British and American officials will carry out a simulated attack on the financial centers in London and Wall Street.

By Judith Messina

A joint operation between the U.S. and Britain later this month to carry out a simulated cyberattack on Wall Street and London will test the resiliency of the world’s financial centers and regulators’ ability to communicate during an emergency.

New York lawyers who specialize in cybersecurity will be paying attention. “Everybody says [a cyberattack] is not an ‘if’—it’s a ‘when,’” said Miriam Wugmeister, a partner and head of Morrison & Foerster’s global privacy and data security group. Its 60-member cyber-security team has grown by more than a third in the past five years.

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