Goldman Sachs Says Some Client Data May Have Been Exposed in Third-Party Data Breach

Group 1 - Goldman Sachs informed investors in its alternative investment funds about a potential data breach linked to Fried Frank Harris Schriver & Jacobson LLP, indicating that some client data may have been exposed [2] - The law firm has assured that its network is now secure and the vulnerability has been addressed, stating that any exposed data is "unlikely to be distributed or used improperly" [2] - Goldman Sachs confirmed that its own systems were not affected by the incident and emphasized its commitment to safeguarding client data [2] Group 2 - Cyberattacks targeting third-party vendors are increasingly common, with a report indicating that 38% of invoice fraud cases and 43% of phishing attacks originate from compromised vendors [3] - Verizon's report highlighted that 30% of data breaches in the year ending October 31, 2024, involved third parties, a significant increase from 15% the previous year [4] - The report emphasized the importance of considering the security limitations of third parties when managing data [5]