Insider threats are not always as they seem. Ranging from high-level executives to disgruntled employees, they come in all flavors.
Over the years, SecureWorld has covered countless insider threat cases.
Google executive. Check.
FBI agent. Check.
Twitter employees. Check.
Now, throw a former Netflix software engineer into the mix.
Sung Mo Jun and his brother Joon Jun pleaded guilty in U.S. District Court in Seattle to running an insider trader ring that made more than $1 million. Jun was employed by Netflix from July 2016 to February 2017.
The Department of Justice says he had access to subscriber data while working for the company. Then he continued using his connections at Netflix to access subscriber data upon his departure.
Prosecutors say Jun disclosed that non-public information to his brothers and others, and made serious bucks while doing so.
From statement by the Department of Justice:
"After Sung Mo Jun left Netflix, he obtained additional non-public information about subscriber data from another Netflix employee, software engineer Ayden Lee, 33, of San Jose, California. Jun not only passed that information on to his brother and Chon, he also used it to make his own trades. Between April 2017 and July 2019, Sung Mo Jun made a profit of $434,086 by trading in Netflix stock and options with this inside information. Between July 2016 and April 2017, Jun's brother, Joon Jun, made $215,419 and co-conspirator Junwon Chon made $521,400. All told, the insider trading attributable to Sun Mo Jun in Netflix securities resulted in an illicit gain of $1,170,905."
Jun took training by Netflix to know that the data he had accessed was not for public consumption.
Insider trading is punishable by up to 20 years in prison and a $5 million fine.
This case opens up more questions about user access in organizations. What are your thoughts? Share in the comments to open up a discussion.
[RESOURCE: Attend SecureWorld's upcoming webcast, 5 Must-Haves in Developing an Insider Threat Program that Protects Sensitive Data]
