WASHINGTON (AP) — Hackers broke into computers at hotel giant Wyndham Worldwide Corp. three times in two years and stole credit card information belonging to hundreds of thousands of customers.
Wyndham didn’t report the break-in in corporate filings even though the Securities and Exchange Commission wants companies to inform investors of cybercrimes.
Amid whispers of sensational online break-ins resulting in millions of dollars in losses, it remains remarkably difficult to identify corporate victims of cybercrimes.
Companies are afraid that going public would damage their reputations, sink stock prices or spark lawsuits. The SEC isn’t tracking how many companies comply with its cybersecurity guidance.
But publicly traded companies historically have resisted supplying information about cyber incidents because it highlights their weak spots, said Peter Toren, a former federal prosecutor with the Justice Department’s computer crime division.
Source: Yahoo News