Thief of Bank's Programming Codes Gets Sentenced
In a case that has raised concerns about cybersecurity and immigration, Bo Zhang, a former contractor for the US Federal Reserve Bank of New York, has been sentenced to six months of house arrest.
The stolen code, worth nearly $10 million, was used for tracking billions of dollars' worth of federal banking transactions. Zhang admitted to copying the code onto a portable hard drive while working for the bank. The theft came to light when Zhang informed a colleague that he had lost the drive.
Despite initial reports, there is no publicly available information or credible sources indicating that Zhang was convicted in 2010 for stealing the code or sentenced to six months of house arrest. However, it is confirmed that Zhang pleaded guilty to the theft. In August 2010, he admitted to the theft, stating he did so to ensure the code was available to him if he lost his job.
In addition to the theft, Zhang also admitted to falsifying immigration documents to help other foreign nationals gain work in the US. The bank insists that the stolen code has not passed into anyone else's hands.
In court, Mr. Zhang apologised to the government, the court, his previous employer, and his clients. It is likely that Zhang will be deported after serving his sentence, according to the Wall Street Journal.
This case serves as a reminder of the importance of cybersecurity measures and the consequences of breaching them. It also highlights the need for strict immigration regulations to prevent fraudulent activities.
Read also:
- Mural at blast site in CDMX commemorates Alicia Matías, sacrificing life for granddaughter's safety
- Comcast Introduces Sports-Oriented Video Bundle in Preparation for the World Cup Tournament
- Is Maruti's reign over the SUV market being challenged by Mahindra's aggressive move to snatch the top spot?
- Social Security Administration Abandons Plan for Electronic Payments: Important Information for Recipients of Benefits
