Thursday, January 24, 2019

SEC Brings Charges in EDGAR Hacking Case

The Securities and Exchange Commission announced charges against nine defendants for participating in a previously disclosed scheme to hack into the SEC’s EDGAR (Electronic Data Gathering, Analysis, and Retrieval) system and extract nonpublic information to use for illegal trading. The SEC charged a Ukrainian hacker, six individual traders in California, Ukraine, and Russia, and two entities. The hacker and some of the traders were also involved in a similar scheme to hack into newswire services and trade on information that had not yet been released to the public. The SEC charged the hacker and other traders for that conduct in 2015. Read more information here.



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