In this fast paced world where resources have been a remedy to mankind’s afflictions and adversities, getting the best out of them is the parameter of a satisfactory life. Well the ways to get these resources have always been a great concern for mankind and not having them has often left him prone and vulnerable to take illegal decisions. Russia in this case is no contradiction.
In a world where trade and commerce are a lucid part
of a country’s economy, information to trade tips is what some Russian hackers
have been looking for. According to an article published by the Bloomberg: A
group of Russian hackers had infiltrated the servers of Dow Jones& Co., the
owner of the Wall Street journal and several other publications and stole
information to trade.
Well this certainly gained a lot of attention as it
compelled The Federal Bureau of Investigation, Secret Service, and Exchange commission
to enter this volatile issue.
Certainly as described by Dow Jones, the breach was
far more serious than a lower grade intrusion. Making good arrangements of
Cyber Security, the company found out those hackers had sought out contact and
payment information to more than 3500 customers.
After some great amount of investigation and analysis
by the FBI and the Secret Service, the real reason behind this activity could
be interpreted. Information embargoed by companies and the government for
release at a later time could be valuable to traders looking to gain an edge
over the market with advanced trading facilities and mechanisms.
Analyzing Consequences:
This case clearly depicts how cybercrime is exploited
to a great extent to get an insight of what today is known as commercial trade.
Market moving and using non-public information used to trade hands in secret
meetings. Hackers have gone on record to steal information and sell it to
traders, thus making a more impactful erratic profit. Usually rich business
journalists and data providers are a big target.
Data being held for public release at a specified time
can also be an extremely profitable resource in markets where legal trade is
certainly overlooked.
How did they make it?
Well many other companies who witnessed this issue
were stunned and afraid and thus started figuring out how they made it after
such high security. US authorities are ramping up their pursuit of hackers
after a series of high profile attacks.
Those hackers who broke into servers have allegedly
made more than $100 million in trades using this crime and broke into the
accounts of many renowned companies through retail brokerage accounts.
This clearly means that globalisation has taken a toll
on mankind and though it has connected us with the contemporaries, it certainly
has made us vulnerable to a number of illegal practices
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