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00:00:00
nnnnn the u. s. securities and exchange commission is investigating one of the most insidious insider trading scandals ever and in a twist it's not going after company insiders , writers cybersecurity correspondent joseph man explains this is an insider trading investigation but what's really unusual about this and perhaps , for the first time ever is that the f. c. c. , is looking , not at people inside the companies themselves or or even their friends or family member , it's in a complete strangers hackers who broke into the email of the people with material information , and then use that themselves , hackers are known to the f. c. c. and the u. s. secret service as a group called thin for , and men says they're adept hacking skills and knowledge of the stock market make them as serious threat this is a really scary moment that a lot of people in information security and have known was coming one day , in this case %HESITATION what was interesting is that there is somebody working with the hackers , was very conversant with how investment banking works they're able to insert themselves in ongoing email threads , just like a regular participant their english was flawless they understand the lingo , some of them at least are probably in the u. s. or europe where it's more likely that they could actually be arrested , then says finn for has tried to hack into email accounts at more than one hundred companies , most of which are publicly traded biotechnology and health care related firms , they're notoriously volatile stock prices , this is uncharted territory for the f. c. c. , it's unclear what the agency can do about it it's it's unclear how broad the problem is , uh but the it's something it's been worried about her for many years in washington and elsewhere , because %HESITATION there's a lot of money in the stock market and %HESITATION it's a very very tempting target for crooks who are getting , better and better both the f. c. c. and secret service declined to comment