Banks confident on code theft crimes

Not so long ago, the greatest assets of software companies were said to be their developers. If they were to walk out the door, there goes the real value--the crown jewels. But the industry made sure--via better practices--that they were never vulnerable in that manner. So in that sense, we should not be surprised that at least one investment bank is waxing confident that its proprietary code is generally safe. This may seem cocky, given that a developer was allegedly able to misappropriate proprietary code from mighty Goldman Sachs and UBS.

But executives tell Traders  they're confident in their systems. In addition, they say their algorithms "are often woven tightly into a proprietary infrastructure. Therefore, algorithmic coding utility diminishes significantly once it's separated from that infrastructure." But some note an algo specification might be of more value. And you still don't want people with your code even if it is off little value. The best attitude to adopt may be paranoia. You have to assume people are out to steal the code. Overconfidence may be playing into their hands. 

For more:
- here's the Traders article

Related Articles:
Goldman Sachs code theft to end with a whimper?
Data loss prevention technology basics
Safeguarding your systems from programmers
Details on Goldman scandal emerge