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Related: About this forumSEC reveals it was hacked, information may have been used for illegal stock trades
Source: Washington Post
SEC reveals it was hacked, information may have been used for illegal stock trades
By Renae Merle September 20 at 11:18 PM
The Securities and Exchange Commission, the countrys top Wall Street regulator, announced Wednesday that hackers breached its system for storing documents filed by publicly traded companies last year, potentially accessing data that allowed the intruders to make an illegal profit.
The agency detected the breach last year, but didnt learn until last month that it could have been used for improper trading. The incident was briefly mentioned in an unusual eight-page statement on cybersecurity released by SEC Chairman Jay Clayton late Wednesday. The statement didnt explain the delay in the announcement, the exact date the system was breached and whether information about any specific company was targeted.
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, Clayton said in the statement.
The system that was breached, known as EDGAR, is a popular way for investors to access the detailed financial reports companies that sell stock to the public must periodically release. It had a software vulnerability that was exploited and resulted in access to nonpublic information, Clayton said in the statement.
-snip-
By Renae Merle September 20 at 11:18 PM
The Securities and Exchange Commission, the countrys top Wall Street regulator, announced Wednesday that hackers breached its system for storing documents filed by publicly traded companies last year, potentially accessing data that allowed the intruders to make an illegal profit.
The agency detected the breach last year, but didnt learn until last month that it could have been used for improper trading. The incident was briefly mentioned in an unusual eight-page statement on cybersecurity released by SEC Chairman Jay Clayton late Wednesday. The statement didnt explain the delay in the announcement, the exact date the system was breached and whether information about any specific company was targeted.
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, Clayton said in the statement.
The system that was breached, known as EDGAR, is a popular way for investors to access the detailed financial reports companies that sell stock to the public must periodically release. It had a software vulnerability that was exploited and resulted in access to nonpublic information, Clayton said in the statement.
-snip-
Read more: https://www.washingtonpost.com/news/business/wp/2017/09/20/sec-reveals-it-was-hacked-information-may-have-been-used-for-illegal-stock-trades/
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SEC reveals it was hacked, information may have been used for illegal stock trades (Original Post)
Eugene
Sep 2017
OP
So hackers, who do not have a profit motive, could manipulate the market to crash.
Lint Head
Sep 2017
#1
Lint Head
(15,064 posts)1. So hackers, who do not have a profit motive, could manipulate the market to crash.
ollie10
(2,091 posts)2. Notice to Republicans.....Russia Could Do This Too n/t
Dustlawyer
(10,497 posts)3. Unlike our election systems, this is fixed but good I am sure!
The super rich Hedge Funders, banks and stockbrokers are used to being the victimizers, not the victims!
No one seems to give a sh*t about election security because they all want to be able to rig the elections!