Collaborate Disseminate
Starting Dec. 18, publicly traded companies will need to report material cyber threats to the SEC. Deloitte offers business leaders tips on how to prepare for these new SEC rules. Continue reading Securities and Exchange Commission Cyber Disclosure Rules: How to Prepare for December Deadlines
The U.S. Securities and Exchange Commission agreed to settle charges with one of the traders who relied on hacked data from an SEC company filing system to collectively make millions of dollars, the agency said in a federal court filing on Wednesday. The SEC settlement includes both Sungjin Cho, the trader, and Kyungja Cho, his mother. Sungjin Cho made 66 illegal trades under his own name relying on the hacked information, and placed or directed four more under accounts in his mother’s name, according to the original complaint. Last year, the SEC and Justice Department filed charges against alleged hackers and the group of traders whom they said benefited from the scheme dating back to 2016 to steal secrets from EDGAR. EDGAR is a filing system for public companies that sometimes contains information that has not yet been made public. The scheme netted at least $4.1 million for the traders, according to the SEC. Among the […]
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The co-founder of a cyber fraud prevention company was arrested Thursday and charged with leading an alleged scheme to trick investors into sinking hundreds of millions of dollars into the startup, the Department of Justice and the Securities and Exchange Commission (SEC) announced Thursday. Investors were shown falsified financial documents as part of the pitch for the software-as-a-service provider, Las Vegas-based NS8, the SEC and FBI said. Adam Rogas, the co-founder and former CEO of the startup, touted bank statements showing payments from NS8 customers that never happened, according to the SEC. “As alleged in our complaint, Rogas falsely presented NS8 as a successful business by fabricating revenue figures and providing them to investors,” said Kurt L. Gottschall, Director of the SEC’s Denver Regional Office. “Investors are entitled to accurate information about a company’s financial condition and the SEC is committed to holding accountable corporate executives who deceive investors.” Rogas is also alleged to have pocketed at least […]
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Carnival, the world’s biggest cruise line operator, suffered a ransomware attack on Saturday that exposed personal data on customers and employees, the company said in a Securities and Exchange Commission filing.
The intrusion, which hit the IT system … Continue reading Cruise operator Carnival hit by ransomware
It’s just like the old saying goes: If you can’t beat ’em, tweet about it. The U.S. government embarked on a public awareness campaign Wednesday seeking help in the apprehension of two Ukrainian men accused of hacking the U.S. Securities and Exchange Commission. The State Department offered rewards of up to $1 million apiece for information leading to the arrest or conviction of Artem Radchenko and Oleksandr Ieremenko. The bounty that comes more than a year after the pair were indicted in a scheme to breach an SEC database, steal nonpublic information and then sell it for a profit. The Secret Service, meanwhile, sent a series of tweets highlighting existing charges against the pair, and asked other Twitter users to provide more information. The effort to breach an SEC database resulted in more than $4.5 million in profit, the Secret Service tweeted. “As their criminal reach is worldwide, we welcome the cooperation and […]
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SBTech, a provider of interactive sports betting solutions and services, has set aside up to $100 million to fix a mess left when a cybersecurity incident hit right in the midst of a merger. In a filing with the U.S. Securities and Exchange Commission … Continue reading Gambling Firm Anticipates Spending up to $100 Million in Recovery from Cyber Incident
But the anonymous messaging app that’s popular with kids isn’t shuttering over any past allegations of abuse. Continue reading Kik Had a Huge Child Predator Problem. Now It’s Shutting Down.
Fallout from Equifax’s 2017 data breach continues to impact the company even years later. Moody’s Investor Service, a bond credit rating business, lowered Equifax’s rating outlook from stable to negative, which indicates a higher likelihood of a ratin… Continue reading Rating: How Current Cybersecurity Issues Can Affect Future Profitability
They’re charged with phishing and inflicting malware to get into the EDGAR filing system, stealing thousands of filings, and selling access. Continue reading Two charged with hacking company filings out of SEC’s EDGAR system
The Securities and Exchange Commission and Department of Justice announced charges Tuesday against an alleged Ukrainian hacker and several other suspects in a scheme where nonpublic information was taken from the commission’s corporate filing system and used for illegal financial trading. Oleksandr Ieremenko is alleged to have hacked into the SEC’s EDGAR system, accessing “test files,” which companies can use to submit information ahead of their public earnings reports. Sometimes companies include nonpublic information in those filings. According to the SEC and U.S. Attorney’s Office of New Jersey, Ieremenko extracted nonpublic test files from SEC servers, and then passed the information to different groups of traders. The traders made transactions before at least 157 earnings releases from May to October 2016, generating at least $4.1 million in illegal profits. The SEC discovered the breach in 2016 after realizing there was a vulnerability in the EDGAR system. The agency didn’t suspect until […]
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