Another day, another story of hacking at a major US financial
firm. However, this time around the strategy of the hackers was a bit different
–
“Personal
information for 100 million people was accessed by cyber-thieves between 2012
and the summer of 2015. At a press conference on Tuesday, US federal prosecutor
Preet Bharara called the scheme "securities fraud on cyber-steroids".
Twelve institutions were victims of the hacking, including JPMorgan, and asset
manager Fidelity. US prosecutors said they were expanding charges against two
Israeli men, Gery Shalon and Ziv Orenstein, as well as a US citizen, Joshua
Samuel Aaron. …Investigators said
the hackers used the personal details to send out information to bosses' email
addresses, promoting certain stocks that hackers had bought cheap. The price
would rise, and the hackers will then sell off their now very valuable shares. It's
a technique known as "pump and dump"”
Related:
http://www.bloomberg.com/news/articles/2015-11-10/digital-don-accused-of-hacks-at-jpmorgan-dow-jones-over-8-years