I guess if a major bank would do „strockprice manipulation“ it would be completely „ok“. 😀
It is known that Goldman Sachs actually bet’s against their customers.
It seems like manipulation is „the way to go“ for banks „in general“. JPMorgan was alleged to have manipulated the electricity market of California and Michigan in 2010, 2011.
„It has been clear since last summer that FERC was pursuing a deep enquiry on JPMorgan’s trading activities, the latest in a string of FERC investigations that have rattled the U.S. power market and – in the case of rival bank Barclays Plc – concluded with $470 million in proposed penalties.“ src: http://www.huffingtonpost.com/2013/05/03/jpmorgan-power-manipulation_n_3211827.html
It is „funny“ and „amazing“ what you can do just with the Addressbook of a bank. So much for why protecting private data matters – for all citizens.
„WASHINGTON — An American man whom U.S. prosecutors have accused of organizing the largest known cyberattack on Wall Street has been deported from Russia to the United States.
Lawyers for Joshua Aaron, 32, confirmed that he arrived in New York around midday on December 14 aboard a commercial flight from Moscow. He was scheduled to make his first U.S. federal court appearance on December 15.
U.S. prosecutors have accused Aaron and two Israeli men of orchestrating the theft of data from more than 100 million customers from U.S. companies including JPMorgan Chase & Co.
The group then used that information to manipulate stocks and similar schemes that brought in hundreds of millions of dollars, U.S. prosecutors say.
U.S. Attorney Preet Bharara called the eight-year scheme „securities fraud on cyber-steroids.“
The office of Aaron’s lawyer, Benjamin Brafman, told RFE/RL that its client would appear in court on December 15.
U.S. authorities issued an arrest warrant for Aaron in July 2015, just two months after he arrived in Russia via Ukraine. His Israeli partners were extradited to the United States a year later.
Aaron has been held in a Moscow immigration detention center since being arrested by Moscow police in May 2016 for alleged immigration violations.
According to Bloomberg, he had applied for refugee status, but a Russian judge later ordered him deported.
The deportation comes amid growing alarm about the extent to which Russian computer hackers have penetrated U.S. government systems, political parties, or other organizations, and whether the election that Republican President-elect Donald Trump won was tainted.
The U.S. intelligence community in October publicly accused the Russian government of being behind intrusions into Democratic Party organizations, and the final days of the U.S. election campaign were overshadowed by questions of Russian hacking.
Trump has rejected allegations that Russia tried to help him get elected and has said the cyberattacks could have come from other governments or private actors.“
100+X MILLION USD STOLEN / STOCK PRICE MANIPULATION
„Prosecutors in Atlanta and New York unsealed indictments against four men and one unnamed alleged co-conspirator in connection with a complex, sprawling scheme to artificially manipulate the price of certain publicly traded U.S. stocks.
The defendants are accused of hacking into JPMorgan Chase in 2014, stealing the names, addresses, phone numbers and email addresses of the holders of some 83 million accounts at the financial institution –a breach that the Justice Department has dubbed the “largest theft of customer data from a U.S. financial institution in history.” Scottrade announced a similar breach of 4.6 million customer records in October 2015. Etrade last month warned 31,000 customers that their contact information may have been breached.
The men allegedly laundered hundreds of millions of dollars from the scheme via a vast cybercrime network that included illegal online pharmacies, fake antivirus or “scareware” schemes, Internet casinos and even a Bitcoin exchange.
Indictments from Atlanta U.S. Attorney John Horn name Gery Shalon, 31, a resident of Tel Aviv and Moscow, who was arrested by Israeli law enforcement in Savyon, Israel in July 2015 and remains in custody there pending extradition proceedings. Another man, Joshua Samuel Aaron, also 31, is a U.S. citizen and resident of Israel, but currently a fugitive. The Atlanta indictments referenced a third, as yet-unnamed accomplice.“
I think i read NSA-Ex-Chief (now running his own private IT security consultation company (without a website)) like this:
„If they can do that – they can do anything.“
With anything you mean… transfer money from JPMorgan customers to somewhere else?
But maybe that was „FEARMONGERING“ to GET MORE FUNDING FOR IT SECUTITY FROM CONGRESS AND THE TAXPAYER.
„The bank typically keeps the personal information of its customers encrypted, or scrambled, as a security precaution. However, during the course of the breach, personal data belonging to those customers had temporarily appeared in plain text in files the computers use to log activity“
„What happened? Hackers breached the www.ucard.chase.com website and gained access to the personal information, which appeared in plain text during the course of the attack. The prepaid cash cards were used by corporations to pay employees and for government agencies to issue tax refunds, unemployment compensation and other benefits.*
But this reads way more lame…
Joshua Samuel Aaron is wanted by the FBI and the United States Secret Service for his alleged involvement in a scheme to hack major American companies in order to acquire customer contact information.
The scheme, orchestrated from approximately 2007 to mid-2015, used the contact information of millions of American citizens to manipulate the price and volume of traded shares in numerous publicly traded stocks by means of deceptive and misleading email campaigns, and manipulative, prearranged stock trading.
Aaron allegedly acted as the stock manipulation scheme’s “front-man,” using the alias “Mike Shields” (including false identification and a Social Security Number belonging to another person) to communicate with brokerage companies and co-conspirators.
After causing a stock’s price and trading volume to increase artificially during the days or weeks of the email promotional campaign, members of the conspiracy, including Aaron, began dumping, or selling, their shares of the stock in a coordinated fashion, often resulting in huge profits to members of the conspiracy“