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October 9, 2012 03:05 am

Post Mortem of GunnAllen IT Meltdown

CowboyRobot writes "The story begins when GunnAllen, a financial company, outsourced all of its IT to The Revere Group. Before long, it was discovered that 'A senior network engineer had disabled the company's WatchGuard firewalls and routed all of the broker-dealer's IP traffic--including trades and VoIP calls--through his home cable modem.' In addition to the obvious security concerns of sending information such as bank routing information and driver's license numbers, the act violated SEC rules because the routed information was not being logged. Regardless of whether the cause was negligence, incompetence, or sabotage, the matter was swept under the rug for a time until unpaid SQL Server licenses meant threatening calls from Microsoft as well. The rest of the story is one of greed, mismanagement, and neglect, and ends with the SEC's first-ever fine for failure to protect customer data."

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