From securitymagazine.com
A Chicago-based futures brokerage will pay a total of $1.5 million for letting cyber criminals breach the firm’s email systems and withdraw $1 million from a customer’s account.
The order from The U.S. Commodities Futures Trading Commission also finds that Phillip Capital Inc. failed to disclose the cyber breach to its customers in a timely manner. The order alsi finds that PCI failed to supervise its employees with respect to cybersecurity policy and procedures, a written information systems security program and customer disbursements.