Coming Unwired: Time to Reconsider How We Deliver Market Moving NewsAugust 21, 2015
It was the ultimate digital heist.
Cybercriminals from the Ukraine and rogue traders and small securities firms from Moscow, Paris and Malta banded together to hack into the servers of three financial wire services to steal market-moving information before it was released to the investing public. By then trading on this inside information, the criminals reportedly netted themselves more that $100 million in illegal profits. The two federal indictments and a companion Securities Exchange Commission case read more like cyber spy novels than legal complaints. They also beg broader, more fundamental questions of governance that companies will need to sort out sooner, rather than later.
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