U.S. Securities and Exchange Commission Chairman Jay Clayton is warning corporate America that cyberattacks are showing no signs of abating.
In an interview on CNBC”™s “Power Lunch,” Clayton noted that the Cybersecurity and Infrastructure Security Agency within the U.S. Department of Homeland Security put out 30 cyber alerts across various industries and business sizes last month. He also reported increasing ransomware attacks on broker-dealers, investment advisers and investment companies ”“ industries that fall under his commission”™s regulatory oversight ”“ as well as a rise in denial-of-service attacks and so-called “credential stuffing” attacks that use compromised client login credentials in an attempt to breach customer data and steal assets.
“Cyber risks have not gone away with the unfortunate, unforeseen risks we”™ve faced with Covid and other uncertainties in our economy,” he said. “They”™re still there, and they”™re there more than ever.”
Clayton acknowledged that some companies are not putting a strong emphasis on cybersecurity, but insisted that was a poor strategy.
“I know companies are burdened in many ways right now,” he continued. “But this is one of those things we just can”™t lose sight of.”
