BAE Says Hedge Fund Attack on Hedge Fund Wasn’t Real

[InfoSec News <alerts () infosecnews org>]

http://www.bloomberg.com/news/2014-07-02/bae-says-hedge-fund-attack-on-hedge-fund-wasn-t-real.html

By Chris Strohm
Bloomberg.com
July 2, 2014

The hacking attack on a hedge fund that was described by a security 
official with BAE Systems Plc (BA/) last month wasn’t real, a company 
spokeswoman said.

The attack was one of several “illustrative scenarios” that BAE internally 
developed and was “incorrectly presented” as authentic, Natasha Davies, a 
company spokeswoman, said in a telephone interview today. The company, 
based in London, sells network security services to government and 
corporate clients.

The notion of a serious hacking attack on a hedge fund fueled questions 
about network security at financial institutions and helped lead to the 
creation of a new group to promote computer security within the banking 
industry.

Paul Henninger, global product director for BAE Systems Applied 
Intelligence, said June 19 that hackers successfully inserted malicious 
software that delayed by several hundred microseconds a large, unnamed 
hedge fund’s order-entry system. Henninger said the hackers also rerouted 
data that might be used to make money in rogue stock-market transactions.

[...]

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