"British Hacker Charged in the US For $3.75m Insider Trading Scheme"

A British hacker accused of orchestrating a $3.75m insider trading scheme has recently been charged in the US.  Robert Westbrook, 39, allegedly gained unauthorized access to corporate executives’ email accounts to profit from confidential financial information.  According to the Department of Justice (DoJ), between January 2019 and May 2020, Westbrook hacked into the Microsoft Office 365 accounts of executives at five US companies.  The DoJ noted that he used this access to gather non-public earnings information, which he then used to make trades before the companies’ announcements, resulting in significant profits.
Authorities claim that Westbrook repeatedly implemented auto-forwarding rules to send emails from the compromised accounts to his own.  He also took several steps to hide his identity, including using VPN services, anonymous email accounts, and cryptocurrency.  If convicted, Westbrook faces severe penalties.  Each securities and wire fraud charge carries a maximum prison sentence of 20 years, while each count of computer fraud could add five years.  He could also be required to pay millions in fines.

Infosecurity Magazine reports: "British Hacker Charged in the US For $3.75m Insider Trading Scheme"