Tuesday, January 27, 2015

Economic Espionage - NYC Russian Banker Arrested by FBI

Federal prosecutors arrested a Russian banker in New York on Monday and charged him as a spy, accusing him and two others of secretly gathering information about the New York Stock Exchange, U.S. energy resources and sanctions against Moscow.

Prosecutors described clandestine meetings and coded communications between the banker and his handlers, one of whom worked as a trade representative of the Russian Federation in New York, the other as an attaché to the Permanent Mission of the Russian Federation to the United Nations.

The spycraft alleged in the complaint reads like a throwback to the Cold War. Yet the alleged operatives’ target was more modern: economic intelligence... 
The most interesting part...
Mr. Buryakov suggested they ask about the NYSE’s use of exchange-traded funds, potential limits on the use of automated high-frequency trading systems... NYSE spokesman declined to comment.

• The movie Blackhat illustrates market manipulation, and why it would interest them.
• Classic spycraft is alive and well. It ain't all IT-based.
• Nice job, FBI!