WASHINGTON: A British man has been arrested and charged by US authorities with hacking into the computers of five companies to obtain details about their expected earnings and making $3.75 million of illegal profit by trading before results were released.
The US Department of Justice will seek the extradition of Robert Westbrook, 39, of London, to face securities fraud, wire fraud and five computer fraud charges contained in a criminal indictment made public on Friday.
Westbrook was arrested this week in the United Kingdom, and also faces related US Securities and Exchange Commission civil charges. His lawyer could not immediately be identified.
The companies were not identified by name in court papers filed in federal court in Newark, New Jersey.
Financial and stock price details in the SEC complaint suggest the companies are food container maker Tupperware, general contractor Tutor Perini, software provider Guidewire Software, gas station operator Murphy USA and telecommunications equipment maker Lumentum Holdings.
Authorities said Westbrook’s “hack-to-trade” scheme involved gaining access to executives’ email accounts between January 2019 and May 2020, and using material nonpublic information to buy stocks and options prior to at least 14 earnings announcements.
On several occasions, Westbrook allegedly implemented rules to have content from executives’ email accounts automatically forwarded to his own accounts.
Jorge Tenreiro, acting chief of the SEC’s crypto assets and cyber unit, called Westbrook’s activity a “sophisticated international hacking,” including the use of anonymous email accounts, VPN services, and bitcoin to conceal wrongdoing.
None of the five companies was accused of wrongdoing.
The securities fraud and wire fraud counts each carry a maximum 20-year prison term, while each computer fraud count carries a maximum five-year term.
US charges British man over ‘hack-to-trade’ scheme
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US charges British man over ‘hack-to-trade’ scheme
- The US Department of Justice will seek the extradition of Robert Westbrook, 39, of London, to face securities fraud, wire fraud and five computer fraud charges
- Westbrook was arrested this week in the United Kingdom, and also faces related US Securities and Exchange Commission civil charges
UN chief launches first global, independent scientific panel on artificial intelligence
- Secretary-General Antonio Guterres nominates 40 experts to serve on body ‘dedicated to helping close the AI knowledge gap and assess the real impacts of AI’
- It will ‘help the world separate fact from fakes, and science from slop … at a moment when reliable, unbiased understanding of AI has never been more critical,’ he adds
NEW YORK CITY: UN Secretary-General Antonio Guterres on Wednesday formally launched what he described as the only global, independent scientific body focused on artificial intelligence, and submitted his recommendations for the experts to serve on it.
“It will be the first global, fully independent scientific body dedicated to helping close the AI knowledge gap and assess the real impacts of AI across economies and societies,” he told reporters in New York.
“And this could not be more urgent. AI is moving at the speed of light. No country can see the full picture alone.”
The Independent International Scientific Panel on Artificial Intelligence was established by the UN General Assembly through a resolution in August. Guterres said he has now submitted a list of 40 experts from all regions as his proposed candidates for the new body, which was mandated by world leaders under the UN’s Pact for the Future.
The panel is intended to provide authoritative, science-based analysis at a time when AI is developing rapidly and reshaping economies, governance and social life, but regulatory approaches remain fragmented.
Guterres underscored the need for shared understanding among countries to help develop effective safeguards, promote innovation for the common good, and strengthen international cooperation.
The UN said the panel would serve as a global reference point, helping policymakers and the public distinguish between reliable evidence and misinformation, and grounding debates on AI in independent scientific assessment.
The initiative comes amid growing concern over the societal, economic and security risks posed by unchecked technological competition.
“We need shared understandings to build effective guardrails, unlock innovation for the common good, and foster cooperation,” Guterres said.
“The panel will help the world separate fact from fakes, and science from slop. It will provide an authoritative reference point at a moment when reliable, unbiased understanding of AI has never been more critical.”
The proposed members of the panel were selected following an open global call that attracted more than 2,600 applicants, whose expertise spanned fields including machine learning, data governance, public health, cybersecurity, child development and human rights. The chosen candidates are expected to serve in a personal capacity, independent of governments, businesses or other institutions.
The panel will operate on an accelerated timeline, with its first report due in time to inform a Global Dialogue on AI Governance scheduled for July. UN officials said the findings were expected to support international efforts to build common ground on AI governance during a period of heightened geopolitical tensions and technological rivalry.
Guterres framed the initiative as part of a broader push to ensure that AI is shaped collectively, guided by scientific evidence and global solidarity, rather than allowing its development to outpace international cooperation.
