Commonwealth Financial Network fined $100,000

Image by amanda480744 via Flickr

According to a recently published SEC cease-and-desist order, the Commission has recently fined Commonwealth Financial Network $100,000, for not mandating antivirus software on the computers of its representatives, leading to a security incident which took place in November 2008, allowing the cybercriminal behind the attack to place eighteen unauthorized purchase orders, resulting in $523,000 of unauthorized purchases.

Despite Commonwealth’s brisk reaction which greatly minimized the financial impact of the compromised accounts, the incident took place shortly after a representative contacted the IT Help Desk indicating a malware infection might have taken place without receiving “follow-up” attention: