Did Facebook Break the Law?

You probably know Cambridge researchers got access to 50 million Facebook user profiles, then gave the data to a private political operation working on behalf of the 2016 Trump presidential campaign. You can learn more from New York Times and Guardian stories. Adding fuel to the fire, Alex Stamos resigned his position as Facebook Chief Security Officer . With this breach, perhaps a thankless and difficult job became impossible. Congress threw more gasoline on the fire, as members of both parties demanded answers from Mark Zuckerberg. Then the FTC launched an investigation. Facebook’s stock price nosedived on fears of new regulation or fines. Social networks (including Facebook itself) are fu

When Insiders Profit from Cyber Breaches

One outrageous thing we learned about the Equifax breach (among many) is that three corporate executives sold company stock after the breach was discovered but not yet disclosed . Equifax stock tumbled 35% when the attack was announced, but by then insiders had already unloaded their shares and earned nearly two million dollars. If those executives knew about the breach, this is troubling. No one should profit from a cyber-attack, especially not officers of the victim company. It would be insider trading of the worst kind, leaders profiting from their own mistakes, while consumers and shareholders suffer. The watchdog agency that polices insider trading is the US Securities and Exchange Comm


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