Did the SEC know about lack in security years before hacking?
The hack that endangered the U.S Securities and Exchange Commission was devastation and more than a little threat. If you think whether it was preventable? Unfortunately, the answer is sometimes yes. The Hill has combed through internal evaluation of the SEC. Now, it is clear that the Commission had been warned regarding digital security issues for years. An inspector general audit also warned about the weaknesses in the security measures of the SEC in the year 2013. Multiple warnings were issued and a report of the inspector general indicated in June 2016 that the SEC hadn’t entirely addressed some specific issues from previous audits. It was a massive amount of risk and easy for hackers in taking sensitive data.
This security was weak but it wasn’t entirely shocking when a number of American government agencies have fallen prey to hacks. Most of the government agencies have to do more with aging computers and infrastructure as those weren’t able to receive software updates outside of exceptional circumstances. The office of the inspector general itself has struggled with both poor funding and a lack of clear targets. The SEC still had plenty of time to update its platforms and adopt policies that weren’t essentially supported by the latest technology, such as using data encryption. The hack also caused a serious problem with government cyber-security in the United States. The crucial agency such as the SEC struggled to enhance its security practices over the years; other important institutions could follow measures in safeguarding critical and important data.