Summary
The recent hack of the U.S. Securities and Exchange Commission’s X account has exposed the poor cybersecurity measures at Wall Street’s main regulator. The agency did not meet federal cybersecurity standards, including the use of multifactor authentication on public-facing systems. Previous evaluations also highlighted weaknesses in security protocols for preventing unauthorized access.
Key Points
1. Wall Street’s chief regulator, the U.S. Securities and Exchange Commission (SEC), has repeatedly been found to have inadequate cybersecurity measures.
2. The SEC was not fully compliant with federal cybersecurity standards, including the requirement for multifactor authentication on public-facing systems.
3. Independent evaluations have identified weaknesses in the SEC’s security measures, particularly in protocols for preventing unauthorized access to networks.
Please note that there is no need to give spaces between the points as they are already separated by bullet points.