Russians Reportedly Hacked Dow Jones In Search Of Stock Tips

Russia Hack Down Jones

According to Bloomberg, Russian hackers tapped into Dow Jones & Co. servers in an attempt to gain a trading edge through stolen information.

The incursion is reportedly being investigated by the FBI, Secret Service and Securities and Exchange Commission. A statement from Dow Jones said that the company has “worked hard to establish whether the allegations it contains are correct. To date, we have been unable to find evidence of any such investigation.”

The report comes on the heels of an announcement by Dow Jones earlier this week in which the company revealed it had been targeted by hackers in an intrusion that may have compromised credit card data of about 3,500 people. Bloomberg called the stock tip hack “far more serious” but said it was “unclear whether the incursions are related.”

The report also says that officials at the Justice Department, Secret Service and SEC all declined to publicly comment but a spokeswoman at the FBI’s New York field office did confirm an investigation into a Dow Jones hack without providing additional details.

In August, U.S. prosecutors brought charges against a Ukrainian hacker group and American traders who conspired to obtain and profit off of insider information. That group infiltrated servers of several news wire firms, including PRNewswire Association, LLC, Marketwired and Business Wire.

As Bloomberg points out, hackers could tap into these systems and Dow Jones’ own to look for embargoed information in press releases or in-process news stories that could have an effect on share prices when made public. By illicitly obtaining them beforehand, these groups could gain a trading edge.

Dow Jones & Co. publishes The Wall Street Journal and Barron’s, and owns MarketWatch.