SEC says its corporate filing system was hacked – By Alain Sherter (moneywatch)/ Sept 20 2017
Federal securities regulators said late Wednesday that hackers gained access to the government’s electronic system for corporate filings and may have made illicit gains by trading on the information.
The Securities and Exchange Commission discovered the intrusion, which occurred last year, only in August. The agency said in a statement that a software vulnerability in its so-called EDGAR filing system, which publicly listed companies use to make regulatory disclosures, was “exploited” for access to nonpublic information.
“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,” SEC Chairman Jay Clayton said in a statement disclosing the hack.
The SEC said it does not believe the cyberattack compromised personally identifiable information, such as names. The agency is investigating the matter.
“In today’s environment, cyberattacks are perpetrated by identity thieves, unscrupulous contractors and vendors, malicious employees, business competitors, prospective insider traders and market manipulators, so-called ‘hacktivists,’ terrorists, state-sponsored actors and others,” Clayton said.
Such attacks undermine confidence in financial markets and can create risks for investors and consumers, the SEC said.
https://www.cbsnews.com/news/sec-says-its-corporate-filing-system-was-hacked/
PB/TK – Government hack is a hack no matter the info taken. Why is the US Government so slow to gain traction on security updates.
