Breach Breakdown: SEC’s X Hack Raises Questions on Cybersecurity Investments

• The IG’s investigation revealed reports of cybersecurity measures and internal systems compliance.
• The reports highlighted the urgent need for internal system compliance, paving the way for the SEC’s focus on cybersecurity.
• SEC 2023 Budget Justification revealed several steps to strengthen security controls.

Amidst the recent hack of the U.S. Securities and Exchange’s (SEC) X handle, the Office of the Inspector General’s investigation is underway. Recent developments, however, shed light on the agency’s efforts to enhance cybersecurity measures. 

In a post on X, Fox Business journalist Eleanor Terrett revealed that two prior reports in 2022 and 2023 by the Inspector General (IG) underscored the need for internal systems compliance. 

In November, the IG requested informat…

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