Israel Police has been cooperating with American law enforcement agencies in the case of a cyber-attack against JP Morgan Chase & Co along with a number of other financial institutions including Bloomberg. According to reports, at least four people have already been taken into custody in Florida and in Israel.

Last year JP Morgan reported a large data breach, in which personal information pertaining to 83 million clients was compromised.

In a statement to the media, Israel Police spokesman Micky Rosenfeld stated “Three Israeli citizens were arrested on Thursday and have been remanded in custody, appearing in court in Rishon L’tzion, near Tel Aviv”. Authorities are still searching for a fifth suspect, Bloomberg reports. Rosenfeld explained that while he is not familiar with the details in the case, he did confirm the arrests.

The indictment was unsealed on Tuesday, reporting two persons have been charged with security fraud as they planned to pump up the price of low-volume stocks. A number of stocks were manipulated in 2011 and 2012 as those responsible used mass emails to get people to drive up the prices of the stocks involved. A Bloomberg report refers to this as a ‘pump and dump’ operation.

Israel Police’s Lahav 443 Unit made two arrests, with both suspects being Israeli residents.

(YWN – Israel Desk, Jerusalem)