Hacker Cyber Attack Hits JPMorgan Chase (JPM)

JPMorgan Chase has become the victim of a hacker cyber attack that exposed volumes of sensitive customer data. Once the hackers gained access to the banks’ networks, they began accessing customer data, according to several sources briefed on a continuing investigation into the crimes. The compromised information includes checking and savings account information.

The cyber attacks appeared to have been a coordinated attack hitting multiple targets. At least four other banks were hit in the same cyber attack, but it is unknown exactly how many banks were affected. A spokesperson for JPMorgan attempted to alleviate customer anxiety by commenting that the bank detects attempted cyber attacks on a regular basis and that the bank has multiple layers of defense to protect customer accounts. According to a person familiar with the situation, JPMorgan has not seen increased fraud levels in its customer’s accounts.

The investigation into the attacks is continuing. The Federal Bureau of Investigation (F.B.I.) is now part of the investigative team trying to determine who the culprits are and what they are doing with the information that was taken. The Secret Service is also involved in the investigation and a number of security firms that have been enlisted to assist with the investigation.

Investigators are still unsure of what the motivation for the attacks would be. It is suspected that the cyber attacks were financially motivated, since customer checking and savings account information was stolen. Another hypothesis is that the attacks are related to espionage and the hackers were collecting intelligence. Forensic studies of the penetrated computer networks are ongoing.

The origin of the attacks is not yet known. There has been speculation that Russian hackers were involved, but that has not been confirmed by government officials. Cyber attacks from Russia could be in retaliation for the economic sanctions Western countries have implemented as a result of Russian actions in Ukraine. The attacks happened earlier this month.

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