[ISN] BAE Says Hedge Fund Attack on Hedge Fund Wasn’t Real

http://www.bloomberg.com/news/2014-07-02/bae-says-hedge-fund-attack-on-hedge-fund-wasn-t-real.html By Chris Strohm Bloomberg.com July 2, 2014 The hacking attack on a hedge fund that was described by a security official with BAE Systems Plc (BA/) last month wasn’t real, a company spokeswoman said. The attack was one of several “illustrative scenarios” that BAE internally developed and was “incorrectly presented” as authentic, Natasha Davies, a company spokeswoman, said in a telephone interview today. The company, based in London, sells network security services to government and corporate clients. The notion of a serious hacking attack on a hedge fund fueled questions about network security at financial institutions and helped lead to the creation of a new group to promote computer security within the banking industry. Paul Henninger, global product director for BAE Systems Applied Intelligence, said June 19 that hackers successfully inserted malicious software that delayed by several hundred microseconds a large, unnamed hedge fund’s order-entry system. Henninger said the hackers also rerouted data that might be used to make money in rogue stock-market transactions. […]