Chinese programmer charged with stealing NY Fed software codeJanuary 19, 2012 - 16:02 AMT PanARMENIAN.Net - U.S. prosecutors arrested a Chinese computer programmer on charges he stole software code valued at nearly $10 million from the Federal Reserve Bank of New York, Reuters reported. Bo Zhang, 32, of Queens, New York, worked as a contract programmer at the bank. He was accused of illegally copying software to an external hard drive, according to a criminal complaint filed in U.S. district court in Manhattan. Authorities said the software, owned by the U.S. Treasury Department, cost about $9.5 million to develop. A federal magistrate judge ordered Zhang released on $200,000 bail after a brief court hearing. Zhang was charged with one count of stealing U.S. government property, which carries a maximum 10 year prison term. The complaint, signed by an FBI agent, said Zhang had admitted to copying the code onto a drive and taking it home. Zhang told investigators he took the code "for private use and in order to ensure that it was available to him in the event that he lost his job," the complaint said. While U.S. intelligence officials have become increasingly worried about economic espionage by China and Russia, cyber crime experts said the case appeared to be one of simple theft. The code, called the Government-wide Accounting and Reporting Program (GWA), was developed to help track the billions of dollars the United States government transfers daily. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Greece says ready to help as Armenia fights flooding consequences Greece is ready to assist Armenia in combatting the consequences of deadly floods in the country’s north. “He will leave”: Protest leader no longer demands meeting with Pashinyan Archbishop Bagrat Galstanyan no longer demands a meeting with Armenian Prime Minister Nikol Pashinyan. Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. Armenian Catholicos calls for national unity against threats Karekin II issued a message on Republic Day marking the anniversary of the First Armenian Republic. |