Security of Intellectual property

A man from Queens, NY is charge in Federal Reserve software theft. Bo Zhang, 32 a Chinese computer programmer who work at a Federal Reserve Bank of NY is facing charges. Federal Reserve Bank protects customers dealing with Banks and helps operate U.S. payment system. Zhang was hired as a contract employee in May and was a programmer at a Bank. For his own computer training business he stole that computer code. Last year in summer while he was working as a government employee he was arrested for copying the software to an external hard drive. About $9.5 million was the cost to develop this software and its own by US Treasury Department.

The suspected breach was uncovered when one of his friends told his supervisor that he has lost the hard drive, which contains the code. The suspected breach was investigated by the Bank and reports it to the authorities. He admitted that he copied that code in his private computer to use it in his computer training Business. He faces 10 years in prison if convicted. After a brief court hearing Judge ordered him released on $200,000 bail. The FBI does not believe that this is connected to international espionage so he was released on Bail and charges only with theft. Computer security is at risk as a government contract employee like Bo steals government intellectual property. Fighting cyber crime sounds complicated when government employee like him misuse his position.