Published On: Tue, Jul 21st, 2015

US, Israel make arrests related to JPMorgan hack

Four detained for possible involvement in banking hack and plan to pump stock value before selling.

JP Morgan Chase & Co sign outside headquarters in New York- JPMORGAN

Reuters, Ynetnews report US and Israeli law enforcement agencies have arrested four people in Israel and Florida related to securities fraud tied to computer hacks of JPMorgan Chase & Co and other financial institutions, Bloomberg reported, citing sources.

Israeli police spokesman Micky Rosenfeld said he did not have details of a scam involving JP Morgan but confirmed three arrests. “Three Israeli citizens were arrested on Thursday and have been remanded in custody, appearing in court in Rishon Lezion, near Tel Aviv, ” Rosenfeld told Reuters.

A fifth person remains at large, Bloomberg reported, quoting officials.

JPMorgan said last October that names, addresses, phone numbers and email addresses of about 83 million customers were exposed in a hacking attack, making it one of the biggest data breaches in history.

In the indictment, which was unsealed on Tuesday, two people were charged with securities fraud in a plan to pump up the value of low-volume stocks, At least five stocks were manipulated in 2011 and 2012, according to the grand jury indictment, Bloomberg said… READ MORE

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