DOJ: Hackers broke into an SEC database and made millions from inside info

Post by blancheneige » Wed, Jan 16, 2019, 8:53 PM UTC

gtirloni wrote: post #47

aboutruby wrote: post #41

Earlier quoted context omitted.

And yet many services rely on SSN for identity verification in the US (e.g. banks, telecoms, etc.)

You mean they rely solely on someone dictating a SSN number? That's insane. They should ask for a official ID with photo, as the very minimum. Is that something that goes against the American culture? The other day I had to give all 10 fingerprints to renew my driver's license (location: South America) and nobody seemed to care.

Post by wildmusings » Wed, Jan 16, 2019, 8:56 PM UTC

all_blue_chucks wrote: post #102

wildmusings wrote: post #79

Earlier quoted context omitted.

It's worth noting that trading spikes in advance of public availability of news doesn't necessarily imply illegal activity. Overheard conversations between strangers, for example, are fair game.

> Overheard conversations between strangers, for example, are fair game. Wrong. It's insider trading if you have material, nonpublic information. It doesn't matter how you got that information.

Post by rrdharan » Wed, Jan 16, 2019, 8:58 PM UTC

wildmusings wrote: post #103

all_blue_chucks wrote: post #102

Earlier quoted context omitted.

> Overheard conversations between strangers, for example, are fair game. Wrong. It's insider trading if you have material, nonpublic information. It doesn't matter how you got that information.

> Wrong. It's insider trading if you have material, nonpublic information. It doesn't matter how you got that information. You are totally mistaken as far as the law in the United States. I can’t speak for other jurisdictions.

Post by k_sh » Wed, Jan 16, 2019, 9:04 PM UTC

nradov wrote: post #86

mikepurvis wrote: post #82

Earlier quoted context omitted.

The whole point is that it's not supposed to change, unlike your name, address, gender, occupation, and everything else. Which makes it all the more ridiculous that as an immutable identifier, it's also supposed to be a secret.

It is supposed to change. The Social Security Administration explicitly allows people to obtain new SSNs in limited circumstances.

Post by AznHisoka » Wed, Jan 16, 2019, 9:07 PM UTC

btbuildem wrote: post #76

People make money off advance information all the time. Often you can see that in the price action -- take this for example: https://imgur.com/mJq1OcY Three days before a positive press release, demand pressure beings to drive up the price. Coincidence? I'm too jaded to believe that.