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FBI indicts three in insider trading scheme that utilized Xbox 360 chat to hide comms | Ringleader could be looking at as much as 165 years in prison (www.techspot.com)

submitted 1 year ago by [email protected] to c/[email protected]

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FBI indicts three in insider trading scheme that utilized Xbox 360 chat to hide comms | Ringleader could be looking at as much as 165 years in prison::undefined

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[–] [email protected] 33 points 1 year ago (5 children)

Points for creativity, I guess? I'm pretty sure a Goldman Sachs analyst can figure out how to do it properly, though...

[–] [email protected] 11 points 1 year ago (2 children)

Fun fact, personal cell phones on the trading floor arnt allowed, to avoid unlogged comms by traders.

[–] [email protected] 12 points 1 year ago (1 children)

Aren't trading floors mostly empty these days since trading is much more automated?

[–] [email protected] 15 points 1 year ago* (last edited 1 year ago)

Yes, but as long as human traders exist, there is a need to log all of their communication to prevent malfeasance

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