Hackers target weakest links for insider trading gain

As banks increase spending on cyber security into the hundreds of millions of dollars and hire thousands of information security specialists, hackers have been looking to more vulnerable targets across the financial sector.

The SEC has said it believes its online filing system used by almost 6,000 public companies may have been hacked to reap “illicit” trading gains.

“Sun Tzu wrote in The Art of War that attackers avoid surfaces and flow to gaps like water flowing down hill,” said Nate Fick, chief executive of cyber security company Endgame. “The banks are the surfaces and the SEC was a gap.”

via Hackers target weakest links for insider trading gain  — FT