The initiative is coming through the Financial Services Information Sharing and Analysis Center (FSISAC), a banking industry forum that has been sharing information on threats from hackers. Law firms are being invited to participate as hackers tend to see them as being easier to crack than the large banks. Since the law firms that advise the banks also have much confidential information about their clients, the banks have a clear interest in helping the law practices strengthen their boundaries. 

Anonymous data-sharing

Anish Bhimani, FSISAC chair and a managing director of JP Morgan Chase, said: 'A lot of this started because the banks were individually talking to the law firms about security information and someone said, ‘This is ludicrous, let’s do it together.’ The current plan being discussed at FSISAC envisages a slightly separate group for the law firms to operate in but with access to FSISAC. The law firms could share information among themselves but firm anonymity would be protected. Source: PYMNTS.com