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Tag: Nasdaq

FBI Busts ‘Largest-known Computer Hacking’ of Its Kind with 9 Arrests

Data securityBy Steve Neavling
ticklethewire.com

Calling it the “largest-known computer hacking security fraud scheme,” the FBI charged nine people in indictments unsealed Tuesday that allege nine people managed to break into three newswires to access yet-to-be press release about financial information.

The FBI reports that the international scheme netted its participants $30 million in illegal profits.

The suspects are accused of stealing confidential information about companies traded on the New York Stock Exchange and NASDAQ.

The FBI said the group stole about 150,000 confidential press releases from the servers of newswires.

“The defendants were a well-organized group that allegedly robbed the newswire companies and their clients and cheated the securities markets and the investing public by engaging in an unprecedented hacking and trading scheme,” U.S. Attorney Paul J. Fishman, District of New Jersey, said in a press release. “The defendants launched a series of sophisticated and relentless cyber attacks against three major newswire companies, stole highly confidential information and used to enrich themselves at the expense of public companies and their shareholders.”

The suspects hail from around the globe, including in the U.S.

Other Stories of Interest

NASAQ Isn’t the Only Thing Going Down: Ex-Managing Director of NASDAQ Gets 3 1/2 Years for Insider Trading

By Allan Lengel
ticklethewire.com

Donald Johnson, a former managing director of the NASDAQ Stock Market, was sentenced Friday to 3 1/2 years in prison for engaging in insider trading on multiple occasions using non-public information he obtained in his role as a NASDAQ executive, authorities said.

Johnson was also ordered to forfeit $755,066.

Johnson, 57, of Ashburn, Va., was sentenced by U.S. District Judge Anthony J. Trenga in Alexandria, Va.

He pleaded guilty on May 26 to one count of securities fraud and admitted that from 2006 to 2009, he purchased and sold stock in NASDAQ-listed companies based on material, non-public information, or inside information, that he obtained through his position as an executive at NASDAQ.

“Mr. Johnson’s insider status at one of our nation’s largest securities exchanges gave him access to highly sensitive information, which allowed him to anticipate the rise and fall of certain stocks,” said Assistant Attorney General Lanny Breuer.

“Armed with this insider information, Mr. Johnson made investing look easy. He pocketed hundreds of thousands of dollars. But he did it by exploiting his trusted position to gain an unfair – and illegal – advantage in the market. Today’s sentence should leave no doubt in the minds of investors inclined to cheat that insider trading is a serious crime, with serious consequences.”

Cyberattacks Focus on Govern. Sites Including Homeland Security and the Washington Post & Nasdaq

computer-photoThese attacks certainly aren’t catastrophic — at least not yet. But they are scary and are a reminder that we need to do more to protect our computers.

By Brian Krebs and Ellen Nakashima
Washington Post Staff Writers
WASHINGTON — A widespread and coordinated cyberattack during the past few days has targeted Web sites operated by major government agencies, including the departments of Homeland Security and Defense, the Federal Aviation Administration and the Federal Trade Commission, according to several computer security researchers.

The attacks involved thousands of computers around the globe infected with rogue software that told them to repeatedly attempt to access the targeted sites, a tactic aimed at driving up traffic beyond the sites’ normal capacity and denying access to legitimate users, according to the researchers, many of whom spoke on condition of anonymity because they are helping with the investigation.

Department of Homeland Security spokeswoman Amy Kudwa said that the agency was aware of ongoing attacks and that the government’s Computer Emergency Response Team had issued guidance to public and private sector Web sites to stem the attacks.

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