📚 Security Firm Execs Get No Prison Time After Hacking Rival Company

A UK judge has sentenced on Friday five executives from Quadsys, a UK-based cyber-security firm, who pleaded guilty in July to hacking one of their business rivals. The five are Paul Streeter (Quadsys owner), Paul Cox (Managing Director), Alistair Barnard (Director), Steve Davies (Account Manager), and Jon Townsend (Security Consultant). According to UK police, in 2015, Quadsys hired a technical engineer from a rival cyber-security company called ITBus. This person was able to supply the three directors, Streeter, Cox, and Barnard, with login credentials for his former company's email inbox. Quadsys execs spied on their rivals The three used this access to gain knowledge on the rival's contract quotes. They used this information to undercut their rival's prices and steer customers away from their competitor. ITBus discovered the intrusion in March 2015, identified the culprit, and by August 2015, UK police had arrested five Quadsys execs involve... ...