Analysis

Equifax Insider Trading Charges Show Need For Action Plan

Law360 (March 15, 2018, 5:44 PM EDT) -- Insider trading charges for a former Equifax executive involved in responding to a data breach affecting some 148 million customers illustrates the need for companies to have solid plans for dealing with cyberattacks that include adequate bulwarks against illegal trading, experts say.

When Equifax was breached last summer, Jun Ying was the chief information officer in its U.S. information systems unit. Although Ying was not actually told about the hack, he used his knowledge of the behind-the-scenes scramble in its wake to conclude that Equifax itself had been targeted and to trade on that information, according to criminal and civil cases...

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