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The controversial Internet hacker-activist group Anonymous, which threatened to erase the New York Stock Exchange from the web, has launched a financial research arm aimed at exposing corrupt corporate practices.
Called Anonymous Analytics, its first target is Chaoda Modern Agriculture, one of China’s largest food producers.
The “hacktivist” group, which says on its website that it relies on a team of financial analysts, forensic accountants, statisticians, computer experts and lawyers, has accused the company of fraud.
Chaoda is already under investigation by the Hong Kong government for allegedly overstating the size of its land holdings, according to reports. The allegations were first raised by Next Magazine, a Chinese publication, last May.
Now, Anonymous Analytics has accused Chaoda of falsifying its financial statements and misleading investors.
Chaodo, which has disputed Next Magazine’s claims, declined to comment on Anonymous Analytics’ claims, according to a report by Financial Times writers Tim Bradshaw and Robert Cookson.
Anonymous Analytics said the company is just the first of many it plans to target by pouring through corporate financial statements and inviting whistleblower-style submissions from others.
In an email interview with Bradshaw, the group said it was inspired partly by Occupy Wall Street, an ongoing protest against corporate greed by a loose affiliation of disaffected youth.
Anonymous said it believes it can be far more effective by targeting companies’ share prices.
Chaoda is one of several companies that have been accused of fraud in recent months, including Sino-Forest, which traded on the Toronto Stock Exchange.
Chaoda’s shares have lost three-quarters of their value since last May.
The group said all the information presented in its reports is acquired through legal channels, fact-checked, and vetted thoroughly before release.
Anonymous describes itself as a decentralized network of individuals focused on promoting access to information, free speech, and transparency.
Its tactics, which have included hacking into government and corporate web sites, have been controversial.
The group has previously targeted The Church of Scientology, supported anti-corruption movements in Zimbabwe and India, and provided secure platforms for Iranian citizens to criticize their government.
https://www.thestar.com/business/ar...us-launches-corporate-whistleblower-site?bn=1
Called Anonymous Analytics, its first target is Chaoda Modern Agriculture, one of China’s largest food producers.
The “hacktivist” group, which says on its website that it relies on a team of financial analysts, forensic accountants, statisticians, computer experts and lawyers, has accused the company of fraud.
Chaoda is already under investigation by the Hong Kong government for allegedly overstating the size of its land holdings, according to reports. The allegations were first raised by Next Magazine, a Chinese publication, last May.
Now, Anonymous Analytics has accused Chaoda of falsifying its financial statements and misleading investors.
Chaodo, which has disputed Next Magazine’s claims, declined to comment on Anonymous Analytics’ claims, according to a report by Financial Times writers Tim Bradshaw and Robert Cookson.
Anonymous Analytics said the company is just the first of many it plans to target by pouring through corporate financial statements and inviting whistleblower-style submissions from others.
In an email interview with Bradshaw, the group said it was inspired partly by Occupy Wall Street, an ongoing protest against corporate greed by a loose affiliation of disaffected youth.
Anonymous said it believes it can be far more effective by targeting companies’ share prices.
Chaoda is one of several companies that have been accused of fraud in recent months, including Sino-Forest, which traded on the Toronto Stock Exchange.
Chaoda’s shares have lost three-quarters of their value since last May.
The group said all the information presented in its reports is acquired through legal channels, fact-checked, and vetted thoroughly before release.
Anonymous describes itself as a decentralized network of individuals focused on promoting access to information, free speech, and transparency.
Its tactics, which have included hacking into government and corporate web sites, have been controversial.
The group has previously targeted The Church of Scientology, supported anti-corruption movements in Zimbabwe and India, and provided secure platforms for Iranian citizens to criticize their government.
https://www.thestar.com/business/ar...us-launches-corporate-whistleblower-site?bn=1
