“In August 2017, the Commission learned that an (cybersecurity) incident previously detected in 2016 may have provided the basis for illicit gain through trading,” wrote the US Securities and Exchange Commission (SEC) in a press release in reference to an unauthorized access to some EDGAR system’s nonpublic information using software vulnerability.
According to SEC Chairman Jay Clayton, in today’s environment “cyber intrusions can create significant risks to the operational performance of market participants and of markets as a whole,” using a broad spectrum of modus operandi and actors.
With a view to building up a broader counter-measure, the SEC explained in a statement that it has decided to incorporate cybersecurity considerations in the day-to-day accomplishment of its federal mission, to promote cybersecurity practices and to upgrade cooperation with other regulators to identify and mitigate cybersecurity risks.
Summing up, cyber criminals do pose a serious actual threat to financial markets’ integrity such as with Equifax Inc. (EFX), a global provider of information solutions and human resources, that revealed hackers stole data on potentially around 143 million of its US customers.
© Cyceon, copy unauthorized without written consent.