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32 charged over 'insider trading hack' scheme

by The Gurus
August 12, 2015
in Top 10 Stories
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US authorities have now charged 32 members of an alleged international hacking and insider trading ring.

The group, operating in the US and Ukraine, allegedly netted more than $100m (£64m) in illegal profits.
Nine members had already been charged by district attorneys in New York and New Jersey.
Hackers are accused of accessing data being processed by financial “wires” in order to obtain information about companies before it was made public.
The information was then used to buy and sell shares, according to indictments.
The total of 32 fraud charges was made by the Securities and Exchange Commission (SEC) and relate to individuals in several countries including the US, Russia, Ukraine, France and Cyprus.
“This international scheme is unprecedented in terms of the scope of the hacking, the number of traders, the number of securities traded and profits generated,” said Securities and Exchange Commission Chair Mary Jo White, in a statement.
 
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Tags: businesswirecheatcybercrimeCybprusdata breachFrancefraudhackedHackerhackinghacking ringInsider tradinglibormartkerPR NewswireRussiaScamSECSecurities Exchange CommissionSurveillanceTheftUkraineVulnerability
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