Increase in Sophistication of Ransomware Attacks on SEC Registrants
On July 10, 2020, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) issued a cybersecurity risk alert in which it discussed the flood of bad actors orchestrating phishing campaigns designed to penetrate financial networks to access internal resources and deploy ransomware. OCIE’s alert indicated that ransomware attacks on SEC registrants appeared to become more…