Tag Archive for: Insider

Russian Denied Bail in Insider Trading Hacking Case

/in


Cybercrime
,
Cyberwarfare / Nation-State Attacks
,
Fraud Management & Cybercrime

$83 Million Allegedly Reaped by Trading on Stolen, Pre-Public Earnings Information

Mathew J. Schwartz (euroinfosec) •
January 7, 2022    

Russian Denied Bail in Insider Trading Hacking Case

A Russian cybersecurity business executive who allegedly profited from an insider trading hacking scheme has been denied bail by a U.S. judge.

See Also: How to Uplevel Your Defenses with Security Analytics


Vladislav Klyushin, 41, was extradited from Switzerland on Dec. 18, 2021. He has pleaded not guilty to the charges. On Wednesday, The Associated Press reported, U.S. Magistrate Judge Marianne Bowler denied the defendant’s request for bail, saying he presents “a substantial risk of flight.”


Klyushin has been charged with participating in a criminal hacking scheme that earned at least $82.5 million by trading on stolen, pre-public information pertaining to hundreds of companies listed on the New York Stock Exchange and NASDAQ, including Horizon Therapeutics, IBM, Microsoft, Snap and Tesla.


“As alleged, Klyushin and his co-defendants used various illegal and malicious means to gain access to computer networks to perpetrate their illegal trading scheme,” says Albert Murray III, the assistant special agent in charge of the criminal and cyber division at the FBI’s Washington field office.




Klyushin, aka Kliushin, founded and serves as a director of Moscow-based IT service and media monitoring firm M-13. The company advertises numerous cybersecurity…

Source…

U.S. catches Kremlin insider who may have secrets of 2016 hack

/in


In the days before Christmas, U.S. officials in Boston unveiled insider trading charges against a Russian tech tycoon they had been pursuing for months. They accused Vladislav Klyushin, who’d been extradited from Switzerland on Dec. 18, of illegally making tens of millions of dollars trading on hacked corporate-earnings information.

Yet as authorities laid out their securities fraud case, a striking portrait of the detainee emerged: Klyushin was not only an accused insider trader, but a Kremlin insider. He ran an information technology company that works with the Russian government’s top echelons. Just 18 months earlier, Klyushin received a medal of honor from Russian President Vladimir Putin. The U.S. had, in its custody, the highest-level Kremlin insider handed to U.S. law enforcement in recent memory.

Klyushin’s cybersecurity work and Kremlin ties could make him a useful source of information for U.S. officials, according to several people familiar with Russian intelligence matters. Most critically, these people said, if he chooses to cooperate, he could provide Americans with their closest view yet of 2016 election manipulation.

According to people in Moscow who are close to the Kremlin and security services, Russian intelligence has concluded that Klyushin, 41, has access to documents relating to a Russian campaign to hack Democratic Party servers during the 2016 U.S. election. These documents, they say, establish the hacking was led by a team in Russia’s GRU military intelligence that U.S. cybersecurity companies have dubbed “Fancy Bear” or APT28. Such a cache would provide the U.S. for the first time with detailed documentary evidence of the alleged Russian efforts to influence the election, according to these people.

Klyushin’s path to the U.S. — his flight from Moscow via private jet, his arrest in Switzerland, and his wait in jail as Russia and the U.S. competed to win his extradition — is described in U.S., European and Swiss legal filings, as well as in accounts of more than a half-dozen people with knowledge of the matter who requested anonymity to speak about Moscow’s efforts and its causes for concern.

According to these accounts, Klyushin was…

Source…

If Your Disclosure of a Data Breach Was “Late,” You May Have to Litigate | Robinson+Cole Data Privacy + Security Insider

/in


A professional accounting firm in Illinois received an unwanted holiday “gift” in the form of a class action complaint stemming from its alleged failure to secure personally identifiable information (PII) and to timely notify affected parties of a data breach.

On December 17, 2021, a lawsuit was filed against Bansley & Kierner, LLP, which offers payroll and benefit services to businesses, by an employee of one of its clients, seeking damages on behalf of himself and others. According to the allegations of the complaint, Bansley failed to properly secure and safeguard a wide range of payroll and benefit plan participants’ PII, including names, dates of birth, Social Security numbers, drivers’ license and passport numbers, financial account numbers, and personal health information. Bansley apparently discovered in mid-December 2020 that its network had fallen victim to a ransomware attack by an “unauthorized person.” The complaint asserts that Bansley elected not to notify participants and clients of the incident at that time, instead choosing to address the incident on its own by making upgrades to some aspects of its computer security, restoring the impacted systems from backups, and then resuming normal business operations.

In May 2021, Bansley allegedly learned that PII had been exfiltrated from its network, and only then retained a cybersecurity company to investigate. Within three months, the investigators determined that individuals’ PII (including full names and SSNs) was present on the system and potentially stolen at the time of the 2020 incident. Over 274,000 individuals were affected. According to the complaint, however, Bansley did not notify state Attorneys General and participants about the data breach until late November or early December 2021, nearly a year after Bansley first became aware of the incident. The complaint further alleges that Bansley failed to explain the delay and did not properly disclose to plan participants the time period during which their PII had been exposed, though the firm did offer free credit monitoring services for a one-year period. Plaintiff claims that he and the potential class members were, and continue to be, at…

Source…

The best malware removal softwares to protect your computer – Business Insider India

/in



The best malware removal softwares to protect your computer  Business Insider India

Source…