SEC reveals hack, possibility info was used for trading

SEC says hack may have led to illegal Wall Street profits

SEC Discloses Hackers Breached Its Filing System

Securities and Exchange Commission Chairman Jay Clayton disclosed in a lengthy statement late Wednesday that a hack was detected previous year.

The SEC has had other issues with Edgar, including people posting phony takeover offers and other hoaxes on the system that have temporarily driven up companies' share prices.

The commission said it learned in August that an incident detected previous year "was exploited and resulted in access to nonpublic information". The software was patched after the incident, Clayton said. A year later, the event has once again resurfaced with the SEC's admission that the attack "may have provided the basis for illicit gain through trading".

U.S. President Donald Trump in May signed an executive order requiring agencies to use a specific framework to assess and manage cyber risk, and to prepare a report within 90 days about how they implement it.

Threats can not help resolve Korean peninsula situation, China says
President Donald Trump has said all options - including military - are on the table to stop North Korea from threatening the U.S. The United States and its allies knew the North Koreans had fired a missile and tracked its path over Japan last week.

Weekly scans of government systems by the Department of Homeland Security showed in January that the SEC had critical cyber security weaknesses but that vulnerabilities were worse at three agencies, including the Environmental Protection Agency and the Department of Health and Human Services.

The agency said it learned in August that an incident detected a year ago "was exploited and resulted in access to nonpublic information".

Brad Keller, senior director of third-party strategy at risk management company Prevalent Inc., told SearchSecurity "this suggests is that the SEC, like most companies, doesn't fully understand how the information in its various databases can be used".

The agency said it did not believe that the breach had involved personal information or that it would jeopardize the agency's activities.

TRAI Slashes Call Connect Charge to 6 Paise Per Minute
The debate over the charge was revived in August a year ago , when Trai issued a consultation paper proposing to review it. As per reports, this move by the TRAI is likely to impact the overall calling charge largely.

The US Securities and Exchange Commission (SEC) said yesterday (20 September) that its corporate database had been infiltrated in 2016, but only in August 2017 was it discovered that those responsible may have used their ill-gotten information to dabble in some insider trading.

SEC Chairman Jay Clayton gave members of Congress a "courtesy call" about the hack on Wednesday afternoon before it was announced publicly, said Representative Bill Huizenga, chairman of the U.S. House subcommittee that oversees the SEC.

The US Securities and Exchange Commission has admitted to being hacked in 2016, with illegal trading potentially at the root of the breach. The SEC sometimes handles its own sensitive information, including disclosures that companies are allowed to keep away from investors.

"Notwithstanding our efforts to protect our systems and manage cybersecurity risk, in certain cases, cyber threat actors have managed to access or misuse our systems", said Clayton. "We must be vigilant".

Supreme Court verdict: Kenya tightens security
Those measures were ordered by the court of appeal past year to enhance accountability and reduce incidences of electoral fraud. Since the presidential election was annulled, the judges said that the threats against them have "become more aggressive".

Latest News