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FBI: Fed Reserve Employee Stole Computer Code

By Danny Fenster
ticklethewire.com

A New York computer programmer was arrested and charged with stealing proprietary software code this week, reports the website TechWorld.com. But the software he allegedly stole didn’t belong to just anyone; it belonged to the federal reserve.

Bo Zhang is charged with stealing software code, known as the Government-Wide Accounting and Reporting Program (GWA) from the Federal Reserve Bank of New York. The software handles a wide variety of government financial transactions, reports TechWorld.

“Bo Zhang was a contract employee assigned to the Federal Reserve Board of New York (FRBNY) to work on further developing a specific portion of the GWA’s source code which the United States has spent approximately £6.1 million ($9.5 million) to develop,” the FBI said in a statement. “In the summer of 2011, Zhang allegedly stole the GWA Code.”

To read more click here.


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