Articles Tagged with investment security

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SEC Hack Exposes Critical Security Faults

On Thursday, it was announced that the Securities and Exchange Commission (SEC), the nation’s top finance and securities regulator, had experienced a critical cyber security breach. The breach, which occurred in 2016, allowed hackers access to the SEC’s EDGAR system, a database which houses corporate filings and announcements for a multitude of Wall Street firms.

The SEC hack has shaken investors and lawmakers as it poses serious questions regarding the SEC’s security measures and protocol. It is also possible that hackers may have profited on the insider info by trading on it. According to a Reuters report, the database contained sensitive, “market-moving information”.

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A recent New York Times article spotlights a renewed approach and increased legislative response to financial elder abuse. Featured in the article are personal accounts of real people whose family members and close friends have been affected by elder financial abuse.

Investment fraud and financial abuse directed towards seniors and the elderly has been a rising concern. We recently featured an issue focusing on the problem of increased elder financial abuse. Most elder abuse is perpetrated against those between the ages of 80-90, suffering from degenerative diseases such as Alzheimer’s.

Now, the issue is getting legislative attention. According to the Times article, 33 states have considered the issue of specific laws directed at financial abuse against the elderly. Other states are revisiting their existing laws.

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