Last week the website of the US regulator, the National Futures Association (NFA), reported that it was affected by cyber attacks. Did cyber attack on website of NFA jeopardize the regulator's data and systems?
24 October, AtoZForex – On the 21st of October, the NFA made an announcement that its website was attacked. Prior to this, the NFA’s internet infrastructure provider went through cyber attacks. Because of it, the NFA’s website was affected as well.
Cyber attack on website of NFA
The NFA is a self-regulatory organization that supervises the U.S. derivatives industry, including on-exchange traded futures, retail off-exchange foreign currency, and OTC derivatives. The regulatory body relies on the internet infrastructure provider that hosts a number of major websites. Last week the NFA's internet provider became subject to cyber attacks. Due to the reliance on the provider, the access to the NFA’s website was impacted as well. Following the attack, the US regulator made a notice that the website was still accessible via the link 198.153.131.79 and that the data and systems are functioning as normal.
Later the same day, the NFA reported that the internet infrastructure provider resolved the problem. The NFA's website and its systems were again accessible through www.nfa.futures.org. Furthermore, the NFA's announced that its data was not endangered and its systems continue to function like previously.
Cyber Security measures introduced by CFTC
Considering that the number of cybercrimes has been rapidly growing over a recent period of time, the Commodities Futures Trading Commission (CFTC) introduces new cyber security rules a month ago. The measures seek to fight cybercrimes and to protect financial markets’ participants, including the US clearinghouses, exchanges, dealing platforms and trade repositories. According to the new rules, the companies are required to examine their systems for cyber-vulnerabilities once a quarter. Besides it, they have to carry out an annual breach recovery tests and recruit external auditors that would execute annual penetration testing.
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