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Hacker Costs France $10 Billion Dollars

January 30. 2008 

Jérôme-Kerviel

Jérôme-Kerviel, an employee of France's second largest bank, Société Générale, hacked into sensitive data systems and caused $10 billion dollars in losses.

The BBC reported a few days ago that he may get three years in jail. While reports in the press yesterday now suggest he may escape with impunity. 

He cost France $10 billion dollars through his villainy and should be punished for it. That money was not his to squander.

Jérôme-Kerviel

There needs to be global legislation to address crimes committed by hackers, as they are all over the world. People from all walks of life have sustained massive financial losses and been put to great trouble and inconvenience because of hackers' fruitless activities in different countries.

How is it a good thing to cause massive damage that often hits the poor more than anyone else, when they are defrauded out of their money via hacking.

Jérôme-Kerviel spent days at home in hiding before turning himself in to the police

People often spend hours trying to repair hacker damaged computers, when they could be spending time with their families, doing charity or other positive activities. It's always the little guy that gets burned the most, as he often does not have the tools and wherewithal to tackle the damage.

If you are a hacker, where is the greater good in that. There is nothing noble about it, as you are harming innocent people. Not to mention, when you go to prison, you are the designated girlfriend. That's not a crime that commands respect in the slammer.

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