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SEC Discloses Hackers Broke Into Edgar Corporate Filing System Last Year

SEC Discloses Hackers Broke Into Edgar Corporate Filing System Last Year

Sep 21, 2017
This month has been full of breaches. Now, the Securities and Exchange Commission (SEC), the top U.S. markets regulator, has disclosed that hackers managed to hack into its financial document filing system and may have illegally profited from the stolen information. On Wednesday, the SEC announced that its officials learnt last month that a previously detected 2016 cyber attack, which exploited a "software vulnerability" in the online EDGAR public-company filing system, may have "provided the basis for illicit gain through trading." EDGAR , short for Electronic Data Gathering, Analysis, and Retrieval, is an online filing system where companies submit their financial filings, which processes around 1.7 million electronic filings a year. The database lists millions of filings on corporate disclosures—ranging from quarterly earnings to sensitive and confidential information on mergers and acquisitions, which could be used for insider-trading or manipulating
Three Chinese Hackers Fined $9 Million for Stealing Trade Secrets

Three Chinese Hackers Fined $9 Million for Stealing Trade Secrets

May 11, 2017
Hackers won't be spared. Three Chinese hackers have been ordered to pay $8.8 million (£6.8 million) after hacking email servers of two major New York-based law firms to steal corporate merger plans in December 2016 and used them to trade stocks. The U.S. District Judge Valerie Caproni in Manhattan sued 26-year-old Iat Hong, 30-year-old Bo Zheng, and 50-year-old Hung Chin, over a multi-million dollar insider trading scam. According to BBC News , the U.S. Securities Exchange Commission (SEC) alleged the three hackers targeted 7 different law firms, but managed to installed malware on networks belonging to two law firms only, then compromised their IT admin accounts that gave the trio access to every email account at the firms. Access to the email and web servers allowed them to gain information on planned business mergers and/or acquisitions. The trio then used this information to buy company stock before the deal, and then sell it after the public announcement of the merger
Leveraging Wazuh for Zero Trust security

Leveraging Wazuh for Zero Trust security

Nov 05, 2024Network Security / Zero Trust
Zero Trust security changes how organizations handle security by doing away with implicit trust while continuously analyzing and validating access requests. Contrary to perimeter-based security, users within an environment are not automatically trusted upon gaining access. Zero Trust security encourages continuous monitoring of every device and user, which ensures sustained protection after successful user authentication. Why companies adopt Zero Trust security Companies adopt Zero Trust security to protect against complex and increasingly sophisticated cyber threats. This addresses the limitations of traditional, perimeter-based security models, which include no east-west traffic security, the implicit trust of insiders, and lack of adequate visibility.  Traditional vs. Zero Trust security Zero Trust security upgrades an organization's security posture by offering: Improved security posture : Organizations can improve their security posture by continuously gathering data on
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