65 KB upload to open source code repository leading to loss of proprietary IP.
Source code in financial services is usually highly proprietary, which helps explain why in 2013 Goldman Sachs criminally charged its ex-programmer for stealing computer code.
He had sent himself 32megabytes of code from Goldman's HFT system to a German source code repository. Debates continue if the programmer's intentions were malicious (probably not), but in the eyes of Goldman the practice of uploading source code was not only bad, but the site it was sent to, SourceForge, has terms of conditions not at all aligned with corporate policy.
In SourceForge, the terms and conditions state all quotes submitted must be certified as an OSI-Approved License. Once uploaded, the code is now open source regardless of how the employee intended its use. "He didn't read the terms and conditions," explains Gupta. "He just wasn't aware they were so onerous."
Becca Lipman is Senior Editor for Wall Street & Technology. She writes in-depth news articles with a focus on big data and compliance in the capital markets. She regularly meets with information technology leaders and innovators and writes about cloud computing, datacenters, ... View Full Bio