The once prestigious 40-year law firm Mossack Fonseca, infamously known for its data breach that revealed the Panama Papers, is closing at the end of the month. The reason, in its words:
“The reputational deterioration, the media campaign, the financial siege and the irregular actions of some Panamanian authorities have caused irreparable damage, whose obligatory consequence is the total cessation of operations to the public.”
What led to all of that? Its data breach, of course.
Full article: Mossack Fonseca to close doors at end of month
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Shawn Tuma (@shawnetuma) is an attorney with an internationally recognized reputation in cybersecurity, computer fraud, and data privacy law. He is a Cybersecurity & Data Privacy Attorney at Scheef & Stone, LLP, a full-service commercial law firm in Texas that represents businesses of all sizes throughout the United States and, through its Mackrell International network, around the world.
Yes according to the Denver Post 66% of small businesses that suffer from a cyber attack are out of business 6 months later.