In Focus: SEC's Probe over Yahoo Data Breaches Raises Concerns

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The Securities and Exchange Commission (SEC) is investigating whether two massive data breaches at Yahoo Inc. should have been reported sooner to investors, The Wall Street Journal and others reported.As SHRM Online reported, Yahoo revealed in December that 1 billion accounts were breached in 2013. That hack is in addition to the one the search engine giant disclosed in September, when the company said that at least 500 million accounts were illegally accessed in 2014.In the Dec.14 announcement, Yahoo said users’ names, e-mail addresses, passwords, security questions and answers, and telephone numbers were exposed.(The Daily Beast, SHRM Online)A source told The Wall Street Journal the probe is expected to focus on both attacks. Yahoo didn’t disclose the 2014 attack for two years, which may have been in violation of civil securities laws. While SEC guidelines from 2011 mandate that companies disclose any security breaches, those guidelines don’t stipulate a timeframe, the pa

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