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Contractor accused of stealing critical government financial software

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January 19, 2012
Cyber Security, FedCyber Wire, Incidents
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FBI and Treasury Department agents arrested a government computer programmer contractor on Jan. 18 for allegedly stealing the critical software source code that helps keep track of the U.S. government’s financial operations.  

Bo Zhang, 32, a Queens, NY, computer programmer, was arrested and charged with stealing proprietary software code from the Federal Reserve Bank of New York (FRBNY), where he worked as a contract employee. Zhang was arrested by FBI and Department of the Treasury Office of Inspector General (“OIG”) agents and was expected to make an initial court appearance in Manhattan federal court late on Jan. 18, said a statement from U.S. Attorney’s Office in the Southern District of New York.

Federal authorities said Zhang was arrested not for Cyber crime per se, or terrorism, but for intellectual property theft, which they said poses another threat to the government security. “As today’s case demonstrates, our cyber infrastructure is vulnerable not only to cybercriminals and hackers, but also alleged thieves like Bo Zhang who used his position as a contract employee to steal government intellectual property,” said Manhattan U.S. Attorney Preet Bharara. “Fighting cyber crime is one of the top priorities of this Office and we will aggressively pursue anyone who puts our computer security at risk.”

via Government Security News, continued here.