JPMorgan Cyber Attack Hits 83m Bank Accounts

Written By Unknown on Jumat, 03 Oktober 2014 | 18.56

More than 80 million bank account details were breached during a summer cyber attack on America's biggest bank, it has been revealed.

JPMorgan Chase & Co said that a security breach in the summer allowed details of 76 million household accounts and 7 million small business accounts were at risk of compromise.

The scale of the breach further heightens concern over the safety of consumer data kept by finance, retailers and other organisations.

JPMorgan said names, addresses, phone numbers and email addresses were among the data stolen.

But it said only customers registered on Chase.com and JPMorganOnline, and ChaseMobile and JPMorgan Mobile apps, were affected.

It reassured customers that no fraud had been detected as a result of the breach.

The bank did not believe the breach included account numbers, passwords, social security numbers or birth dates.

The US has been hit by a series of data breaches in the last year, with big name retailers such as Target and Home Depot targeted.

This latest breach has shown that America's banks are not impregnable in the cyber domain.

"This is really a slap in the face of the American financial services system," Gartner security analyst Avivah Litan said. "Honestly, this is a crisis point."

"You have to be paranoid now ... There is no such thing as data confidentiality anymore. Everything is out there."

JPMorgan is America's biggest bank by assets and working with federal officials investigating the cyber attack.

CEO Jamie Dimon said earlier that by the year's end the company would be spending $250m (£155m) annually on cyber defence.

It discovered the intrusion on its servers in mid-August and has since determined that the breach began as early as June, spokeswoman Patricia Wexler said.

"We have identified and closed the known access paths," she said.

The spokeswoman declined to comment on whether or not the bank knew who was behind the sever breach.

She also declined to comment on whether JPMorgan has been able to determine who was behind the cyber attack on its servers.


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