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SEC’s information technology at risk of hacking: report

18
Apr
2014

By Sarah N. Lynch WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission has failed to protect its data network against possible breaches, to encrypt highly sensitive information, or to use strong enough passwords, the Government Accountability Office said on Thursday. In addition to the cybersecurity failings, even the physical security in place to protect SEC data and equipment from being accessed or stolen is lax, a 25-page GAO report said, with workstations located in an area open to all agency staff. The report comes just two days after the SEC issued a nine-page blueprint that put Wall Street firms on notice that they should brace themselves for some tough questions from agency examiners about their cybersecurity policies and practices. “Information security control weaknesses in a key financial system’s production environment may jeopardize the confidentiality, integrity, and availability of information residing in and processed by the system,” the GAO wrote.

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