Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Risk

5/20/2016
10:20 AM
50%
50%

Cyber Security A Major Risk To US Financial System: SEC Chief

Mary Jo White believes that despite preparedness, procedures in place to fight cyberattacks are inadequate.

US Securities and Exchange Commission (SEC) chief Mary Jo White has issued the strongest warning to date about threats from hackers saying the US financial system’s cyber policies are inadequately equipped to deal with them, reports Reuters. This statement is dubbed by Tom Kellermann, formerly of the World Bank's security team, as a “historic recognition of the systemic risk facing Wall Street.”

White’s observation comes close on the heels of the recent $81-million Bangladesh Bank theft that has left the financial world shaken up.

Speaking at the recent Reuters Financial Regulation Summit, the SEC chair said the committee, which regulates the securities markets, has seen a lot of awareness and preparedness to threats, but the procedures in place are insufficient.

Under White, the SEC has done much to bring out regulations targeting misleading of investors, rampant non-compliance, and broken windows. It has been actively involved in assessing the cybersecurity of brokers and investment advisors.

For more details on this, see Reuters.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Threaded  |  Newest First  |  Oldest First
RyanSepe
50%
50%
RyanSepe,
User Rank: Ninja
5/23/2016 | 8:48:53 AM
Identifying Gaps
Security professionals have always been great at identifying gaps. We have defined the problems, we have postulated solutions, but action must be taken. The reason many of these inefficiencies remain is because there is a lack of action behind the solutions.
44% of Security Threats Start in the Cloud
Kelly Sheridan, Staff Editor, Dark Reading,  2/19/2020
Zero-Factor Authentication: Owning Our Data
Nick Selby, Chief Security Officer at Paxos Trust Company,  2/19/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
6 Emerging Cyber Threats That Enterprises Face in 2020
This Tech Digest gives an in-depth look at six emerging cyber threats that enterprises could face in 2020. Download your copy today!
Flash Poll
How Enterprises Are Developing and Maintaining Secure Applications
How Enterprises Are Developing and Maintaining Secure Applications
The concept of application security is well known, but application security testing and remediation processes remain unbalanced. Most organizations are confident in their approach to AppSec, although others seem to have no approach at all. Read this report to find out more.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-9405
PUBLISHED: 2020-02-26
IBL Online Weather before 4.3.5a allows unauthenticated reflected XSS via the redirect page.
CVE-2020-9406
PUBLISHED: 2020-02-26
IBL Online Weather before 4.3.5a allows unauthenticated eval injection via the queryBCP method of the Auxiliary Service.
CVE-2020-9407
PUBLISHED: 2020-02-26
IBL Online Weather before 4.3.5a allows attackers to obtain sensitive information by reading the IWEBSERVICE_JSONRPC_COOKIE cookie.
CVE-2020-9398
PUBLISHED: 2020-02-25
ISPConfig before 3.1.15p3, when the undocumented reverse_proxy_panel_allowed=sites option is manually enabled, allows SQL Injection.
CVE-2015-5201
PUBLISHED: 2020-02-25
VDSM and libvirt in Red Hat Enterprise Virtualization Hypervisor (aka RHEV-H) 7-7.x before 7-7.2-20151119.0 and 6-6.x before 6-6.7-20151117.0 as packaged in Red Hat Enterprise Virtualization before 3.5.6 when VSDM is run with -spice disable-ticketing and a VM is suspended and then restored, allows r...