32 Members are Charged for ‘Insider Trading Hack’

By   ISBuzz Team
Writer , Information Security Buzz | Aug 20, 2015 10:00 pm PST

US authorities have 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. Hackers are accused of accessing data being processed by financial “wires” in order to obtain information about companies before it was made public. Tim Erlin, director of security and product management at Tripwire, commented on US charges over ‘insider trading hack’ scheme.

[su_quote style=”modern-light”]Tim Erlin, Director of Security and Product Management at Tripwire :

Companies need to be aware of the risks their supply chain presents to the business. This is a case where sensitive information was transferred to a third party, and while the sensitivity was time limited, the data was clearly at risk. While public companies may take the time to revisit their PR processes with an eye towards security, they should look at other areas where data is shared with third parties that might be exploited.

The US Government took more than two years to bring this case to an arrest. While that may seem like a long time, that kind of patience and persistence is the best weapon that federal agents have in a tough fight against sophisticated criminals.”[/su_quote][su_box title=”About Tripwire” style=”noise” box_color=”#336588″]Tripwire logoTripwire, Inc., a global provider of risk-based security and compliance management solutions, today announced Tripwire® Enterprise™ version 8.3 featuring a new, stand-alone Policy Manager™. Tripwire Policy Manager provides the detailed visibility into system configurations critical to minimizing security risks and ensuring compliance.[/su_box]