FRANCHISE HERALD
Friday June 25, 2021

updated - June 25, 2021 Friday EDT

JP Morgan Reports Millions were Affected by Data Breach

Oct 02, 2014 11:06 PM EDT | By Flynna Sarah Molina
Tags
jp morgan, bank, Home Depot, Target, hacker, hack, cybersecurity, cyber
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Bank reported that financial information not divulge but clients' contact details like mobile numbers, exposed

One of the biggest banks in United States released a statement on the huge computer hack issue that affected over 70 million households and roughly 7 million small enterprises, which became the biggest computer-related issue happened ever.

The hack attack has been running for a month before it was revealed. By the time it was discovered few months ago, there were already about a million of accounts that have been exposed. And the latest update on the hack issue was it became worse that everyone thought.

As per the bank's statement, pieces of information like login details, social security numbers, DOB or passwords were not exposed. But names, mobile numbers, email and home addresses of account members were gathered by the hackers.

"As of today, the company has not yet gotten any fraud issues related to the hack incident," as the bank explained during the regulatory filing Clients will not be responsible for not-authorized transactions of their account, as long as they inform the bank as soon as it occurs.

The bank has been working together with FBI and US secret agency to go after the responsible hackers.

The extent of the hack, one of the biggest ever, happens right after the continuous major data breaches at United States organizations and next in the attacks on Home Depot and Target.

Early September, Home Depot announced that their payment scheme were hacked which resulted to more than 56 million affected payment cards. Target also had the same problem last year and reached 40 million payment cards.

The bank assured the shareholders that they are investing about $250 million in their annual update on cybersecurity, which required them to employ 1,000 staff to go through the systems.

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