WEBVTT - Bloomberg Law Brief: Indictments Over Yahoo Hacking (Audio)

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<v Speaker 1>Now it's time for our daily Bloomberg Law Brief, exploring

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<v Speaker 1>legal issues in the news. It's brought to you by

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<v Speaker 1>American Arbitration Association, International Trade or Business Dispute Resolve Faster

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<v Speaker 1>with the International Center for a Dispute Resolution, the leader

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<v Speaker 1>in alternative dispute resolution around the world, i c d

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<v Speaker 1>R dot org. Today Bloomberg, lahst Jun Grosso and Greg

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<v Speaker 1>Store discussed charges against four people for hacking Yahoo and

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<v Speaker 1>stealing the personal information of hundreds of millions of users

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<v Speaker 1>a S week with Anne McKenna, professor at Penn State

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<v Speaker 1>Law School, and John reads Stark, founder of John Reid

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<v Speaker 1>Stark Consulting and founder of the sec S Office of

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<v Speaker 1>Internet Enforcement. John in the announcement, the government made its

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<v Speaker 1>case to the public that Moscow is orchestrating criminal hacks

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<v Speaker 1>with cyber criminals. Tell us more about the Russian cyber

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<v Speaker 1>spying regime. You know what I read this, I thought,

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<v Speaker 1>like Captain Renaux and Calsablanca. Remember, I'm shocked, shocked to

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<v Speaker 1>find the gambling is going on. This kind of hacking,

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<v Speaker 1>in this kind of scheme is been going on for

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<v Speaker 1>quite some time, dating back to when I was at

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<v Speaker 1>the SEC remember, there have been cyber attacks on the

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<v Speaker 1>federal government dating back that are documented, dating back to

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<v Speaker 1>two thousand nine, two twelves, all over the place, and

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<v Speaker 1>by various different state sponsored terrorist regimes. So I don't

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<v Speaker 1>know that this is anything new, But what's amazing is

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<v Speaker 1>that these people were finally caught, and I think the

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<v Speaker 1>FBI has really got to be commended here. I'm sure

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<v Speaker 1>this investigation took quite some time, and it's the first

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<v Speaker 1>time as far as I can tell, that actual Russian

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<v Speaker 1>intelligence officials were indicted right along with the hackers that

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<v Speaker 1>they had engaged to carry on these acts. And on

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<v Speaker 1>that last point, what is the significance of that, the

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<v Speaker 1>fact that for the first time Russian FSB agents were

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<v Speaker 1>included in an indictment. It's significant just because we've heard

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<v Speaker 1>so much in the news. Our election cycle was filled

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<v Speaker 1>with these, you know, allegations of Russian hacking um and

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<v Speaker 1>interference with the election, and so to see the FBI

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<v Speaker 1>and the Department of Justice come out so clearly with

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<v Speaker 1>you know, very strong charges both based on economic espionage

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<v Speaker 1>for foreign as well as our federal laws for computer

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<v Speaker 1>fraud and abuse, UM, it's really it's significant and it

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<v Speaker 1>shows that you know, they were very careful I'm sure

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<v Speaker 1>before making these charging documents public. It shows that they

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<v Speaker 1>are really ready to back up and and to to

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<v Speaker 1>prosecute this. You know. What's going to be the trick

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<v Speaker 1>here though, is one of the one of the hackers involved,

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<v Speaker 1>has already you know, been on the list to be

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<v Speaker 1>extradited from Russia, and Russia of course has not extra

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<v Speaker 1>extradited that hacker. So what remains to be seen now

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<v Speaker 1>is what's the fallout going to be for US Russian

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<v Speaker 1>relations when US demands extradition of these two FSB officers

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<v Speaker 1>as in McKenna, professor at Penn State Law School and

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<v Speaker 1>John reid Stark, founder of John Reid Stark Consulting and

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<v Speaker 1>founder of the SEC Office of Internet Enforcement, speaking with

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<v Speaker 1>the Bloomberg Law hosting Glossom on Greg's store. You can

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<v Speaker 1>listen to Bloomberg Law weekdays at one pm Wall Street

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<v Speaker 1>Time here on Bloomberg Radio. And that's this morning's Bloomberg

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<v Speaker 1>Law Brief. You can find more legal news at Bloomberg

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