- #SNAPCHAT ITS EFFORTS ROOT OUT DEALERS SOFTWARE#
- #SNAPCHAT ITS EFFORTS ROOT OUT DEALERS OFFLINE#
- #SNAPCHAT ITS EFFORTS ROOT OUT DEALERS SERIES#
In sum, the capital markets and their critical participants, including public companies, are under a continuous and serious threat of cyber-attack, and this threat cannot be ignored. Beyond the unacceptable damage to consumers, these secondary effects include reputational harm that significantly affects a company’s bottom line.
In addition, the aftermath of the 2013 Target data breach demonstrates that the impact of cyber-attacks may extend far beyond the direct costs associated with the immediate response to an attack. companies was $11.6 million per year, representing a 78% increase since 2009. According to one 2013 survey, the average annualized cost of cyber-crime to a sample of U.S. In addition to becoming more frequent, there are reports indicating that cyber-attacks have become increasingly costly to companies that are attacked. The numerous cyber-attacks on the infrastructure underlying the capital markets, including quite a few on securities exchanges.
#SNAPCHAT ITS EFFORTS ROOT OUT DEALERS OFFLINE#
banks, in which their public websites have been knocked offline for hours at a time and The sustained and repeated cyber-attacks against several large U.S. The January 2014 cyber-attack on Snapchat, a mobile messaging service, in which a reported 4.6 million user names and phone numbers were exposed The December 2013 cyber-attack on Target Corporation, in which the payment card data of approximately 40 million Target customers and the personal data of up to 70 million Target customers was accessed without authorization
#SNAPCHAT ITS EFFORTS ROOT OUT DEALERS SOFTWARE#
The October 2013 cyber-attack on the software company Adobe Systems, Inc., in which data from more than 38 million customer accounts was obtained improperly A few of the more well-known examples include:
#SNAPCHAT ITS EFFORTS ROOT OUT DEALERS SERIES#
As I am sure you have heard, recently there have also been a series of well-publicized cyber-attacks that have generated considerable media attention and raised public awareness of this issue. companies experienced a 42% increase between 20 in the number of successful cyber-attacks they experienced per week. Law enforcement and financial regulators have stated publicly that cyber-attacks are becoming both more frequent and more sophisticated. Ĭybersecurity has become an important topic in both the private and public sectors, and for good reason. Yet, in the past few years, there can be no doubt that the focus on this issue has dramatically increased.
I suspect that not too long ago, we would have been hard-pressed to find many individuals who had even heard of cybersecurity, let alone known what it meant. Over just a relatively short period of time, cybersecurity has become a top concern of American companies, financial institutions, law enforcement, and many regulators. I am pleased to be here and to have the opportunity to speak about cyber-risks and the boardroom, a topic that is both timely and extremely important. Securities and Exchange Commission (“SEC” or “Commission”), my fellow Commissioners, or members of the staff. Before I begin my remarks, let me issue the standard disclaimer that the views I express today are my own, and do not necessarily reflect the views of the U.S. In anticipating today’s conference, I thought back to an earlier trip to the NYSE where in April 2009, I had the opportunity to ring the closing bell. I am glad to be back at the New York Stock Exchange.
0 kommentar(er)
