http://www.nasdaq.com/article/us-to-charge-that-hackers-tapped-early-deal-news-20150811-00023
By Dow Jones Business News
August 11, 2015
U.S. authorities are preparing to unseal sweeping charges as early as
Tuesday against a group of traders and computer hackers who allegedly
schemed to get early access to press releases about mergers and
acquisitions and trade on them before the deals were made public, people
familiar with the matter.
Federal prosecutors in Brooklyn and New Jersey plan to announce charges
against more than a half dozen people with securities fraud and other
charges in connection with the alleged scheme, which authorities believe
netted tens of millions of dollars in illicit profits, the people familiar
with the matter said.
The case may be the largest of its kind, these people said, and
illustrates the increasingly bridged lines between cybertheft and
traditional financial crimes.
The hackers allegedly infiltrated the systems of news-wire services that
publish press releases about mergers and acquisitions and obtained
information from statements about unannounced deals, the people familiar
with the matter said. The traders would then use the information to make
early trades on the deals, exploiting the small window of time between
press releases being uploaded into the system and the public announcement
of the deals.
[...]
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