{"id":13058,"date":"2017-09-20T19:37:00","date_gmt":"2017-09-21T03:37:00","guid":{"rendered":"http:\/\/associatednews.info\/content\/sec-says-cybercriminals-hacked-its-files-may-have-used-secret-data-for-trading\/"},"modified":"2017-09-20T19:37:00","modified_gmt":"2017-09-21T03:37:00","slug":"sec-says-cybercriminals-hacked-its-files-may-have-used-secret-data-for-trading","status":"publish","type":"post","link":"https:\/\/associatednews.info\/content\/sec-says-cybercriminals-hacked-its-files-may-have-used-secret-data-for-trading\/","title":{"rendered":"SEC Says Cybercriminals Hacked Its Files, May Have Used Secret Data For Trading"},"content":{"rendered":"

By Barbara Campbell<\/a><\/span> <\/p>\n

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The Securities and Exchange Commission says cybercriminals got into the agency’s files last year and accessed information that might have been used to give them a secret edge in trading.<\/p>\n

The SEC says it had known about the intrusion in 2016 into its Edgar filing system, but learned<\/a> this month that “nonpublic information” accessed may have been used for “illicit gain.”<\/p>\n

“Edgar houses millions of filings that companies are required to submit to the SEC so that they can be perused by investors,” as noted<\/a> by Bloomberg.<\/p>\n

The agency says the “software vulnerability … was patched promptly after discovery,” and didn’t reveal any personally identifiable information.<\/p>\n

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A statement<\/a> by SEC Chairman Jay Clayton notes that potential damage done by cybercrime increases all the time, and that “a large portion of the costs … are borne by investors, consumers and other important constituents.”<\/p>\n

Politico<\/a> reports that Congress has questioned the SEC about Edgar’s security:<\/p>\n

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“In May 2015, Sen. Chuck Grassley (R-Iowa) asked the SEC for information about EDGAR vulnerabilities after an apparent hoax involving Avon Products Inc.<\/p>\n

“In October 2014, Rep. Carolyn Maloney (D-N.Y.) raised concerns after an academic study revealed that stock prices were moving about 30 seconds prior to public filings being made available on the SECs website.”<\/p>\n<\/div>\n<\/blockquote>\n