Insider Stole from Fed Reserve
January 24, 2012
Total Loss:
Unknown
Prosecutors have charged a former computer programmer at the Federal Reserve with stealing software used to track federal collections and payments.
The Federal Bureau of Investigation announced that its complaint against Bo Zhang had been unsealed. Zhang was arrested and charged Jan. 18 for stealing proprietary code used by the Department of Treasury in its Government-Wide Accounting and Reporting Program. The program, which is used to track government finances and issue account statements for federal agencies, cost an estimated $9.5 million to develop.
Source:
Bank Info Security
Posted in:
Internal Fraud