The Securities and Exchange Commission (SEC) has revealed that it discovered that hackers tapped its Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system in 2016. EDGAR contains millions of corporate filings ranging from quarterly earnings to statements on acquisitions. It’s the kind of information that can have a huge impact on the stock market.
Adding to the discovery, the SEC learned last month that cyber criminals may have exploited the cache from the data breach for insider trading.
The news of the breach is especially troubling given that the agency was warned repeatedly about its system vulnerabilities.
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