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Charges brought in largest US financial cyber-hacking | |
(35 minutes later) | |
Prosecutors have charged three men relating to the largest cyber-attack of financial firms in US history. | |
Personal information for 100 million people was accessed by cyber-thieves between 2012 and the summer of 2015. | |
At a press conference on Tuesday, US federal prosecutor Preet Bharara called the scheme "securities fraud on cyber-steroids". | At a press conference on Tuesday, US federal prosecutor Preet Bharara called the scheme "securities fraud on cyber-steroids". |
Twelve institutions were victims of the hacking, including JPMorgan, and asset manager Fidelity. | |
US prosecutors said they were expanding charges against two Israeli men, Gery Shalon and Ziv Orenstein, as well as a US citizen, Joshua Samuel Aaron. | US prosecutors said they were expanding charges against two Israeli men, Gery Shalon and Ziv Orenstein, as well as a US citizen, Joshua Samuel Aaron. |
Charges against the three men were expanded to include computer hacking and identity theft among 21 other counts. | Charges against the three men were expanded to include computer hacking and identity theft among 21 other counts. |
Mr Aaron, 31, was a fugitive and believed to be living in Moscow, while Mr Shalon, 31, and Mr Orenstein, also 40, were in custody in Israel. | |
The men allegedly manipulated stock prices by selling shares of companies to individuals whose contact information they had stolen. They then dumped their own shares, causing the price to fall. | |
The men were also charged with running an illegal payment processing business that they used to collect $18m (£11.9m) in fees. | The men were also charged with running an illegal payment processing business that they used to collect $18m (£11.9m) in fees. |
Prosecutors claim the men hacked into competitors' systems to spy on them and then hacked into a credit card company investigating their payment processing business in order to avoid detection. | |
Separate charges have also been brought against a Florida man, Anthony Murgio, who operated a unlicensed digital currency service and had previously been linked to the breach at JPMorgan. | |
The US Securities and Exchange Commission had already filed civil charges related to securities fraud against Mr Shalon, Mr Aaron and Mr Orenstein. | The US Securities and Exchange Commission had already filed civil charges related to securities fraud against Mr Shalon, Mr Aaron and Mr Orenstein. |