Feds Charge Wall Street Traders With Code Theft

[InfoSec News <alerts () infosecnews org>]

http://www.informationweek.com/security/attacks/feds-charge-wall-street-traders-with-cod/240160543

By Mathew J. Schwartz
InformationWeek.com
August 28, 2013

Three men have been charged by Manhattan district attorney Cyrus Vance Jr. 
with stealing proprietary information from Amsterdam-based trading house 
Flow Traders.

All three, who are in their 20s, were arrested earlier this month -- based 
on information provided by Flow Traders -- and arraigned in New York state 
court, The Wall Street Journal first reported. Since then, the district 
attorney's office, working with the Secret Service, has been investigating 
the related charges and obtaining search warrants, with the cooperation of 
Flow Traders.

A related complaint recently filed in federal court accused Glen Cressman, 
a trader at the firm's New York office, of emailing copies of proprietary 
information such as trading strategies and algorithms -- although no 
source code -- to himself in December 2012. The complaint charged Cressman 
with two counts each of unlawfully duplicating computer-related material, 
as well as unauthorized use of secret scientific material.

Jason Vuu, 26, who worked at Flow Traders before resigning in March, was 
charged with 20 counts total of the two same offenses. Vuu reportedly 
emailed material -- including source code -- to himself between August 
2011 and August 2012, sometimes altering the names of attached files in an 
apparent attempt to avoid detection.

[...]



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