InfoAnda - Exclusive: Hacked companies still not telling investors |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Super Bowl is most watched TV show ever | 9 February 2010
Senate Passes D.C. Voting Rights Bill Despite Amendment Repealing Gun Laws | 27 February 2009
Massive demand for Michael Jackson memorial tickets | Entertainment | | 4 July 2009

Sahara festival opens with camel races, desert dog hunting | 26 December 2008

Forum Views () Forum Replies ()

Read more with google mobile : Exclusive: Hacked companies still not telling investors |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Davos 2012 Technology Media Small Business Legal Deals Earnings Summits Business Video The Freeland File Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Issues 2012 Candidates 2012 Tales from the Trail Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Bernd Debusmann Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Edward Hadas Hugo Dixon Ian Bremmer Mohamed El-Erian Lawrence Summers Susan Glasser The Great Debate Steven Brill Geraldine Fabrikant Jack & Suzy Welch Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (3) Editor's Choice Analysis: Facebook's daunting Asian challenge Sony sees $2.9 billion loss, new CEO warns Hacked companies still not telling investors Angelic "Steve Jobs" loves Android in Taiwan TV ad Birth control recall raises risk of unplanned pregnancy Judge: health labels may stem tobacco co rights Europe freeze kills 89, fears rise over Russian gas Opinion: IPOverload, Facebook goes public Video: Red flags in the Facebook S1 filing Slideshow: Facebook, tagged at new HQ Follow Reuters Facebook Twitter RSS YouTube Read After Florida win, Romney stumbles in comments on poor | 7:06am EST Israel says Iran has material for four A-bombs 9:45am EST Egyptians incensed after 74 die in soccer tragedy | 10:20am EST U.S. plans to halt Afghan combat role early | 8:15am EST Facebook's Zuckerberg to keep iron grip after IPO | 8:08am EST Discussed 145 U.S. outrage as Egypt bars Americans from leaving 90 Romney wins Florida Republican presidential primary 79 Taliban ”poised to retake Afghanistan” after NATO pullout Watched Beckham unveils underwear for H&M Wed, Feb 1 2012 Iran sends toy drone to Obama Sun, Jan 29 2012 At least 73 killed in Egypt soccer riot Wed, Feb 1 2012 Exclusive: Hacked companies still not telling investors Tweet Share this Email Print Related News Key Internet operator VeriSign hit by hackers 7:36am EST Analysis & Opinion How to avoid the insider trading net Corporate Governance: proxy advisory guidelines and the shifting landscape of benchmarking executive compensation Related Topics Tech » Media » The Lockheed Martin plant in Fort Worth, Texas that builds F-35 fighter jets, in a March 2010 image. Credit: Reuters/Fred Clingerman-Lockheed Martin By Joseph Menn SAN FRANCISCO | Thu Feb 2, 2012 10:13am EST SAN FRANCISCO (Reuters) - At least a half-dozen major U.S. companies whose computers have been infiltrated by cyber criminals or international spies have not admitted to the incidents despite new guidance from securities regulators urging such disclosures. Top U.S. cybersecurity officials believe corporate hacking is widespread, and the Securities and Exchange Commission issued a lengthy "guidance" document on October 13 outlining how and when publicly traded companies should report hacking incidents and cybersecurity risk. But with one full quarter having elapsed since the SEC request, some major companies that are known to have had significant digital security breaches have said nothing about the incidents in their regulatory filings. Defense contractor Lockheed Martin Corp, for example, said last May that it had fended off a "significant and tenacious" cyber attack on its networks. But Lockheed's most recent 10-Q quarterly filing, like its filing for the period that included the attack, does not even list hacking as a generic risk, let alone state that it has been targeted. A Reuters review of more than 2,000 filings since the SEC guidance found some companies, including Internet infrastructure company VeriSign Inc and credit card and debit card transaction processor VeriFone Systems Inc, revealed significant new information about hacking incidents. Yet the vast majority of companies addressing the issue only used new boilerplate language to describe a general risk. Some hacking victims did not even do that. "It's completely confusing to me why companies aren't reporting cyber risks" if only to avoid SEC enforcement or private lawsuits, said Jacob Olcott, former counsel for the Senate Commerce committee. The chair of that committee, John D. Rockefeller, urged the SEC to act last year. Stewart Baker, a corporate attorney and former assistant secretary of the Department of Homeland Security, said the SEC guidance was detailed enough that companies that know they have been hacked will "have to work pretty hard not to disclose something about the scope and risk of the intrusion." Otherwise, "this is an opportunity for enforcement that practically hands the case to the SEC on a platter," Baker said. Lockheed spokesman Chris Williams said hacking was covered under the company's most recent annual securities filing, which has as one of many risk factors "security threats, including threats to our information technology infrastructure, attempts to gain access to our proprietary or classified information, threats to physical security of our facilities and employees, and terrorist acts." Williams said the May attack had "no material effect on our business." Mantech International Corp, CACI International Inc and other defense and technology firms that have been reported by security researchers as hacking victims were likewise silent in their most recent filings. Neither Mantech nor CACI responded to interview requests. "It's common knowledge" that most large defense contractors have been penetrated, said Olcott. Sikorsky Aircraft, mindful of a strict New Hampshire law warning individuals at risk of identity theft, wrote to that state's attorney general in August that hackers had gotten into its system and could have accessed Social Security numbers of 55 employees who lived in the state. Sikorsky said the employee data likely was not the hackers' target, which suggests that they might have been after designs or other trade secrets. But Sikorsky parent United Technologies Corp did not mention the May intrusion in subsequent SEC filings. "Like other companies, our businesses are subject to (information technology) security attacks at times. We monitor systems and cooperate closely with the government when appropriate," said United Technologies spokesman John Moran. DEARTH OF CONFESSIONS Melissa Hathaway, a former intelligence official who led U.S. President Barack Obama's initial cybersecurity policy review and helped push the SEC to enact a disclosure policy, said she was "surprised" at the dearth of new confessions. "The SEC division of corporate finance has an obligation to ask these companies why they didn't disclose," she said. "We need to have transparency on the state of the situation, and we need to have a national conversation regarding the near-term impact of economic espionage and the long-term health of the nation." The SEC declined to comment. The agency's guidance officially clarifies previous policy instead of establishing a new rule, a process that takes longer and requires a vote of the commissioners. A person close to the agency said it expects fuller disclosures in annual 10-K filings that will begin appearing in volume this month. Cybersecurity has been an increasing concern in Washington, and Obama asked during his State of the Union speech for action on legislative proposals. Security experts believe hackers are frequently targeting valuable digital information including strategic plans, blueprints and secret formulas. But security experts in and out of government have complained for years that most companies don't disclose even very successful hacking attacks, because they never find out about them or simply don't want to spook investors, customers or business partners. The U.S. National Counterintelligence Executive, in a landmark November report that openly accused China of sponsoring military and economic cyber espionage, said that it is hard for companies to estimate the impact of losses that might not be apparent for years. One Pentagon contractor that did go into some detail recently about the threat was Northrop Grumman Corp, which warned: "Cybersecurity attacks in particular are evolving and include, but are not limited to, malicious software, attempts to gain unauthorized access to data, and other electronic security breaches that could lead to disruptions in mission critical systems, unauthorized release of confidential or otherwise protected information and corruption of data. These events could damage our reputation and lead to financial losses from remedial actions, loss of business or potential liability." A few technology companies gave even more specific warnings, including Juniper Networks Inc, which makes gear for routing Internet traffic, and chip-maker Intel Corp. Intel had been one of the few to disclose a successful breach in the past, along with Google Inc, which has complained of attacks originating in China. In a November filing, Intel repeated that hackers had gotten inside and warned that "the theft or unauthorized use or publication of our trade secrets and other confidential business information as a result of such an incident could adversely affect our competitive position and reduce marketplace acceptance of our products." Some companies asserted that they had not been hacked, or at least averred that they had not been subject to a "material" or "catastrophic" intrusion. Others confessed to breaches for the first time, including VeriSign and VeriFone Systems, which said it had experienced "security breaches or fraudulent activities related to unauthorized access to sensitive customer information." The company did not respond to requests for elaboration. Point-of-sale terminals including VeriFone's models are popular targets for criminal hackers, who can tamper with them in order to record passwords and card numbers. VeriFone has been reported as a supplier of machines to Michaels Stores Inc, a retail chain of hobbyist stores that had to replace more than 7,000 terminals last year after discovering tampering in 20 states. Two other companies said they disclosed breaches because of the SEC guidance. Tumi Holdings, the luggage maker that is pursuing an initial public offering, said in a stock prospectus that security systems in some of its retail stores had been compromised in the past. In an interview, Tumi Chief Financial Officer Michael Mardy said there had been no theft of a database or other massive breach. Instead, he said there had been occasions where store employees had conspired with outsiders on a small scale, for example by giving refunds to people who had not made purchases. "We felt it was necessary to list as a risk factor because it actually is a risk factor," Mardy said. University of Phoenix parent Apollo Group Inc, which in the past had noted attempted breaches, for the first time said some attempts had succeeded. "We are facing an increasing number of threats to our computer systems of unauthorized access, computer hackers, computer viruses, malicious code, organized cyber attacks and other system disruptions and security breaches, and from time to time we experience such disruptions and breaches," it wrote in a 10-Q. Apollo spokesman Rick Castellano declined to say how extensive the breaches had been. "Cybersecurity is an area of growing area of concern for all companies", Castellano said. "We devote significant resources to manage any potential threat." (Reporting By Joseph Menn) Tech Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (3) AndiV wrote: Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Advertise With Us Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Thursday, 2 February 2012
More than 70 die in Egyptian soccer pitch invasion |
Nigeria militant spokesman arrested
Rival Libyan militias fight gunbattle in capital |
Sit-tight rulers risk African Spring: Nobel Laureate Soyinka |
IBM planning major job cuts in Germany: union |
EA revenue rises, sells 2 million units of Star Wars |
Facebook execs gear up political influence arm |
Nokia revamp to hurt most of 2012 results-Chairman |
Senate panel to look at Verizon spectrum deals |
Washington D.C. steps back from Internet gambling launch |
Amy Winehouse coroner not qualified: UK media |
Filmmaker arrested during House hearing on shale gas |
Kodak requests name be removed from Oscars venue |
Opry stage that once held Cash and Presley to be replaced |
It's Ex-Factor for Abdul, Scherzinger, Jones |
Russia says will veto unacceptable Syria resolution |
Egypt soccer violence kills 74, fans turn on army |
U.S. plans to halt Afghan combat role early, Kabul surprised |
Kidnapped aid workers released in Yemen, 5 militants dead |
Europe freeze kills 89, fears rise over Russian gas |
ArcelorMittal says one dead in French factory blast |
Kuwait opposition seen making gains in snap election |
China to ask South Sudan for help on kidnapped workers: report |
IAEA, Iran to meet again after good talks |
Facebook's Zuckerberg to keep iron grip after IPO |
Analysis: Facebook IPO tests easy growth assumptions |
Timeline: From dorm room to Nasdaq: Facebook's meteoric ascent |
Angelic Steve Jobs loves Android in Taiwan TV ad |
New Sony CEO to confront scale of turnaround task as loss looms |
Elpida posts worse than expected quarterly loss |
Qualcomm handily beats Street, shares rise |
EA sells 2 million units of Star Wars, shares up |
Soul Train creator Don Cornelius commits suicide |
Avatar's Cameron buys up land in NZ hobbit country |
Lisa Marie Presley opens new Elvis exhibit |
L.A. contemporary artist Mike Kelley found dead |
Polish Nobel winning poet Szymborska dies at 88 |
Exclusive: U.S. and allies exploring prospects for Assad exile |
Israel says Iran has material for four A-bombs |
Greek PM seeks to force pledges of more austerity |
Portuguese strike flops, workers fear for jobs |
Seized cash triggers political furor in Mexico |
Taliban return seen unlikely threat in reshaped Afghanistan |
Palestinians throw shoes, stones at U.N. convoy |
Analysis: Facebook's daunting Asian challenge |
Timeline: From dorm room to Nasdaq: Facebook's meteoric ascent |
Sony sees $2.9 billion loss, new CEO warns of pain |
Intel CFO faces fewer worried investors |
Exclusive: Hacked companies still not telling investors |
India court orders licenses cancelled in telecom scandal |
AU Optronics: forms strategic alliance with Idemitsu |
Will Smash splash or crash for NBC? |
Egyptian film star sentenced for insulting Islam |
Tom Stoppard, beneficiary of the subconscious |
Lung cancer forces Wild Thing singer to retire |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01