SEC probing Yahoo over cyberattacks: media

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SEC probing Yahoo over cyberattacks: media
by Staff Writers
Washington (AFP) Jan 23, 2017

UK communications spy chief announces resignation
London (AFP) Jan 23, 2017 - The head of Britain's communications spying agency announced he was resigning on Monday, after just over two years in the post, for personal reasons.

Robert Hannigan, the head of the Government Communications Headquarters (GCHQ), informed Foreign Secretary Boris Johnson of his decision.

The 51-year-old said he had been "lucky enough to have some extraordinary roles in public service over the last 20 years".

But he added: "They have all demanded a great deal of my ever patient and understanding family, and now is the right time to change direction".

Hannigan was director general of defence and intelligence at the Foreign Office before taking over at GCHQ.

He said he would stay on until a successor was found, adding that he wanted a nominee in place by the time of GCHQ's centenary in 2019.

"I am... proud of the relentless 24-hour operational effort against terrorism, crime and many other national security threats," Hannigan wrote.

"While this work must remain secret, you will know how many lives have been saved in this country and overseas by the work of GCHQ," he said.

Hannigan took over at GCHQ at a time when it was under a shadow following leaks by former National Security Agency contractor Edward Snowden about the extent of British-US data surveillance.

Under Hannigan's leadership, GCHQ has stepped up its public role through eye-catching recruitment campaigns as well as bolster Britain's efforts to counteract cyber crime and cyber warfare.

The US Securities and Exchange Commission has opened an investigation into whether Yahoo should have informed investors sooner about two major data breaches, the Wall Street Journal reported Sunday, citing people familiar with the matter.

The SEC in December requested documents from the tech company concerning the cyberattacks, the paper reported.

US law requires companies that fall victim to such hacks disclose them as soon as they are deemed to affect stock prices.

Yahoo announced in September that hackers in 2014 stole personal data from more than 500 million of its user accounts. It admitted another cyberattack in December, this one dating from 2013, affecting over a billion users.

Yahoo is in the process of a buy-out by Verizon, which is investigating the cyberattacks' impact on the $4.8 billion deal. The telecom giant plans to acquire Yahoo's core business, namely its online advertising activities as well as websites including Yahoo Mail and Yahoo News.

The SEC's investigation is focusing on why it took Yahoo several years to reveal the 2013 and 2014 attacks. However, the agency has not yet decided whether it will file suit against Yahoo, the Journal reported.

Yahoo is expected to report its fourth-quarter earnings for 2016 after the market closes on Monday.

The data breaches have been a major embarrassment for a former internet star that has failed to keep up with Google, Facebook and other rising stars.

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