- Rafael Marchante/Reuters
Wall Street has a cybersecurity problem.
Hackers have gone after banks, brokerages, and news wires, and now it looks as if they may have gone after business reporters as well.
They are attacking just about every pillar of American finance. That includes the newsmakers themselves, the distributors of news, and the folks who are breaking the news.
Bloomberg reported on Friday that Russian hackers broke into Dow Jones servers and stole information they used to trade on.
A Dow Jones representative told Business Insider: “Since Bloomberg published its article, we have worked hard to establish whether the allegations it contains are correct. To date, we have been unable to find evidence of any such investigation.”
A representative for the FBI confirmed that the agency was aware of the intrusion and looking into it.
Another hacking case
The Wall Street Journal, Barron’s, and other Dow Jones publications often move shares of publicly listed stocks with scoops and analysis, and the hackers were reportedly seeking information on news stories being prepared.
The retail brokerage Scottradeannounced earlier this monththat it experienced a cyberattack in late 2013 and early 2014. The breach affected up to 4.6 million clients and was aimed at stealing names and street addresses.
Earlier this year, hackers and traders were accused of stealing more than 150,000 press releases from a handful of news wires back in August. Those new releases contained financial information that could be used for trading.
The case involved wires including PR Newswire, Marketwired, and the Warren Buffet-owned Business Wire. The investment banking titan Goldman Sachs later made the decision not to report third-quarter earnings on Business Wire.
JPMorgan Chase, another Wall Street bank, was also the victim of a cyberattack. Hackers stole contact information for more than 70 million households in 2014.
It seems that no one in the financial-services sector is safe.