Due to cyber infiltration, Intercontinental Exchange (ICE) faces a $10 million fine

0
49
Due to cyber infiltration, Intercontinental Exchange (ICE) faces a $10 million fine
Due to cyber infiltration, Intercontinental Exchange (ICE) faces a $10 million fine

Intercontinental Exchange Inc. (ICE) will settle claims that its firms failed to promptly inform the Securities and Exchange Commission of a cyber breach event by paying a $10 million penalty, the SEC announced.

The Securities and Exchange Commission announced on Wednesday that Intercontinental Exchange Inc. (ICE) will pay a $10 million penalty to resolve allegations that its companies neglected to notify the SEC of a cyber intrusion event right away.

The corporate network was accessed remotely with a VPN device that had a code implanted in April 2021, according to ICE. However, the staff failed to alert the subsidiaries for several days, as the regulators discovered. The agency claimed that because of this delay, the subsidiaries—including the New York Stock Exchange—violated agency regulations requiring prompt reporting to the SEC.

The attempt to get access to the exchange’s network was unsuccessful and had no effect on market operations, according to an ICE spokeswoman, who did not confirm or refute the SEC’s accusations.

As regulators work to address the growing risks of cyberattacks, the SEC has been advocating for quicker disclosure of cybersecurity breaches.

Also readUnveiling the Ethical Imperatives: Navigating the Intersection of AI and Cybersecurity

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter 

About us:

CIO News is the premier platform dedicated to delivering the latest news, updates, and insights from the CIO industry. As a trusted source in the technology and IT sector, we provide a comprehensive resource for executives and professionals seeking to stay informed and ahead of the curve. With a focus on cutting-edge developments and trends, CIO News serves as your go-to destination for staying abreast of the rapidly evolving landscape of technology and IT. Founded in June 2020, CIO News has rapidly evolved with ambitious growth plans to expand globally, targeting markets in the Middle East & Africa, ASEAN, USA, and the UK.

CIO News is a proprietary of Mercadeo Multiventures Pvt Ltd.