SEC Data Hack: 9 Things to Know

The hack took place in 2016

The U.S. Securities and Exchange Commission (SEC) has revealed that it was hacked in 2016.

SEC Data Hack: 9 Things to Know
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Here’s what we know about the SEC data hack.

  • The organization notes that a hack into its system that took place in 2016.
  • It discovered the hack last year, but says that it wasn’t until August 2017 that it noticed additional effects of the hack.
  • This includes the possibility that hackers have used information gained in the hack to take part in illicit gain through trading.
  • The SEC says this was possible due to a “software vulnerability in the test filing component of our EDGAR system.”
  • It says that the system has been patched to remove this software vulnerability.
  • However, hackers may have gotten their hands on nonpublic information.
  • The government organization says that it doesn’t believe any private information was stolen during this hack.
  • It also claims that there is no systemic risk from the hack and that it didn’t jeopardize the SEC.
  • The investigation into the SEC data hack is still in progress and the organization is working with the appropriate authorizes on the matter.

You can follow this link to learn more about the SEC data hack.

“Cybersecurity is critical to the operations of our markets and the risks are significant and, in many cases, systemic,” SEC Chairman Jay Clayton said in a statement. “We must be vigilant. We also must recognize—in both the public and private sectors, including the SEC—that there will be intrusions, and that a key component of cyber risk management is resilience and recovery.”

As of this writing, William White did not hold a position in any of the aforementioned securities.

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