Another Staffer at Mega-Hacked Equifax Slapped with Insider Trading Rap
Credit agency promises eight US states it will boost cyber security measures, escapes fine
A former Equifax software engineering manager was today charged with insider trading – and has promised to pay back his alleged ill-gotten gains.
Meanwhile, eight US states decided to let the biz off with just a slapped wrist instead of a fine after it was thoroughly hacked last year.
The credit agency's computer security fiasco, during which the personal data of 148 million people was exposed to miscreants, was discovered at the end of July 2017, yet the agency kept quiet about it until September that year.
As the scandal hit the headlines, a number of reports emerged that some execs at Equifax had made good use of the three-month quiet period, allegedly offloading their shares in the biz – something the US Securities and Exchange Commission has been looking into.
The SEC announced today that a second employee has been charged with insider trading, the first being against Jun Ying, former chief information office in Equifax's US business unit.
According to the watchdog, software engineering manager Sudhakar Reddy Bonthu “traded on confidential information he received while creating a website for consumers impacted by a data breach.”
The SEC alleged Bonthu – although told the website work he was doing was for an unnamed potential client – figured out it was for Equifax itself.
Armed with that information, the SEC claimed, 44-year-old Bonthu purchased Equifax put options, which allow the holder to sell a specified amount of a security at a specified price within a specified time frame.
“Less than a week later, after Equifax publicly announced the data breach and its stock declined nearly 14 percent, Bonthu sold the put options and netted more than $75,000, a return of more than 3,500 percent on his initial investment,” the SEC claimed.
The engineering manager "was terminated from Equifax in March after refusing to cooperate with an internal investigation into whether he had violated the company’s insider trading policy," the watchdog added.
Bonthu has, we're told, already settled the SEC's charge, and agreed to pay back that money plus interest. The regulator said:
However, this is not the end of the saga for the Bonthu: the techie now faces criminal charges [PDF] of insider trading, brought today by the US Attorney’s Office for the Northern District of Georgia.
Not a fine day for Equifax
Meanwhile, eight US states’ banking departments have opted to make a deal with the credit reporting biz – and stops short of imposing a fine on the firm.
In a statement, the New York Department of Financial Services superintendent Maria Vullo said that Equifax had agreed to a consent order.
“The consent order announced today between Equifax and the commissioners of eight state banking departments demonstrates the necessity of continued state oversight of financial services companies,” Vullo said.
This order requires it to make corrective actions including a proper risk assessment and improving the board’s oversight of information security information, audit, patch management, information technology operations, vendor management, and other functions.
In the UK, investigations led by the Information Commissioner's Office and Financial Conduct Authority are ongoing.
- DevOps Engineer with IdAM
- Upto £80,000 plus benefits
We are ooking for an DevOps engineer, idealy with IdAM (identity access Management) experience, this is a senior role for someone that can be the lead hands on person on a project. Your role will be to work on the deployment project implementing the solution into the exsiting application so will be used to connect an applications into mulipe 3rd party appliactions. We Would look at someone who has done DevOps with Security and can cross train into IdaM, but preference would be given to someone with the IdAM experience this is a great opportunity to join a consultancy that work on some truely amazing and differnet solutions
- Senior SOC Analyst. Level 3 Palo Alto Wildfire, Rapid 7, Fortify, Splunk.
REF CH7840 Senior SOC analyst (Palo Alto Wildfire, Rapid 7, Fortify AND Splunk) Flexible location £55,000 + Senior SOC analyst needed (Level 3) that can achieve SC clearance for a permanent role. We are looking for Level 3 SOC Analysts with two or more of the following; Palo Alto Networks Wildfire (#malware) Rapid7 Nexpose Micro Focus Fortify (#automated #applicationsecurity) AND ideally Splunk. The role will include, but not be limited to; managing and handling incidents end to end, supporting and mentoring level 1 / level 2 staff, supporting the SOC manager in the delivery of the SOC roadmap, engaging with the client stakeholders (other technical teams) as and where needed, use case development, advanced search and reporting etc. Flexible location, commutable in the future to London or Birmingham This role will sit within a public sector client so the individual must be able to achieve SC clearance. To arrange a call with Chris Holt use this calendy link https://calendly.com/chris-holt/arranged-call-with-chris-holt-remote-soc-role Chris.Holt@dclsearch.com 07884666351
- Identity & Access Management (IdAM) Consultant
- Upto €100,000 plus bonus and benefits
An Identity & Access Management Consultant is needed to lead and drive technical and or business transformation projects in a client-facing position for a prestigious consultancy in Germany. The Identity & Access Management Consultant will be responsible for technical design and implementation of Identity & Access Management/IAM products within a wide variety of clients. The Identity & Access Management Consultant will have a blend of technical hands-on and client-facing consultancy with the ability to develop new business. Broad technical knowledge across Identity and access management is benefical. The Identity & Access Management Consultant will need to have technical hands-on experience with one or more of the following core areas; Privileged Access Management (PAM, CyberArk, Beyondtrust, Thycotic) Identity Governance Administration (IGA, Sailpoint, Omada, RSA) Customer Identity & Access Management (CIAM, Forgerock PSD2) The Identity & Access Management Consultant must have the willingness to travel to customer sites across Germany.
- PCI DSS Security Specialist, Level 1 Service Provider,
CH7827 Payment Card Industry DSS Security Specialist, Level 1 Service Provider End User. £75,000 Flexible location, ocassional travel to London- Covid permitting Payment Card Industry DSS Security specialist needed to join a Security team to work with a highly respected CISO within a Level 1 Payment Service Provider. The PCI- DSS Security Consultant will have end to end responsibility for PCI - DSS and its continuing certification. 2021 / 2022 plan is to transition PCI to the cloud. Experience must include a focus into the Payment Card Industry. A mix of Information Security standards, frameworks, audit principles, controls / policies and the management and use of the technical tooling to achieve compliance is essential. PCI objectives / 12 key requirements, OWASP top 10, ISO 27001, NIST Cybersecurity Framework etc An ideal candidate will be working within an end user environment with a cyber consultancy background. PCI Cloud compliance, specifically someone with experience taking PCI-DSS from on premise into the cloud is HIGHLY desired. However, someone with Solid PCI experience with a strong technical background which include Cyber / Secure by design etc would be considered. Experience managing internal stakeholders and external third parties essential. Flexible working, but with the ability to get into London. This is an exclusive role to DCL Search & Selection. Arrange a call with Chris Holt on https://calendly.com/chris-holt/arrange-a-call-chris-dcl-pci-compliance