WASHINGTON -- Over a two-year period, hackers broke into computers at hotel giant Wyndham Worldwide Corp. three times and stole credit card information belonging to hundreds of thousands of customers.
Yet Wyndham didn't report the break-in in corporate filings even though the Securities and Exchange Commission wants companies to inform investors of cybercrimes.
Amid whispers of sensational online break-ins resulting in millions of dollars in losses, it remains remarkably difficult to identify corporate victims of cybercrimes.
Companies are afraid that going public will damage their reputations, sink stock prices or spark lawsuits.
The chairman of the Senate Commerce Committee, Democratic Sen. Jay Rockefeller of West Virginia, is adding a provision to cybersecurity legislation that would strengthen the reporting requirement.
By RICHARD LARDNER, Associated Press
The Associated Press