Charges brought in massive US financial hacking

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Charges brought in massive US financial hackingUS prosecutors have brought charges against three men following a sustained hack attack, probably the largest in US history, over a three year period spanning 2012 to 2015. One of the alleged culprits is American Joshua Aaron and the remaining two are Israeli, Gery Shalon and Ziv Orenstein. A fourth man from Florida has also been charged in connection with the investigation.

This was a carefully calculated and sustained attack on around twelve organisations including famous names such as JPMorgan. Prosecutors believe that the group used legitimate accounts belonging to Mr. Aaron to illegally access millions of accounts belonging to other investors. They then performed a well-known stock fraud technique called “pump and dump” whereby they promoted certain stocks that they bought cheaply and then sold them when the price was high.

The men are also charged with operating a fraudulent payment processing business that netted them over $18m.

See the full story on bbc.co.uk

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