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04/26/2024 02:08:08 am

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JPMorgan Admits Being Victim to Cyber Attack, 76 Million Households and 7 Million Small Businesses Affected

JPMorgan Chase

(Photo : Reuters)

JPMorgan Chase announced on Thursday that 76 million households and 7 million small businesses had been subject to a breach that occurred in its computer systems over the course of the summer.

In a regulatory filing scheduled Thursday, the largest bank in the United States admitted that its systems had been infiltrated by hackers over the summer. The breach reportedly compromised information including names of customers, home and e-mail addresses, and phone numbers. In addition, JPMorgan disclosed that the internal bank data "relating to such users" had been compromised as well.   

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However, JPMorgan asserts during the filing that "there is no evidence" ascertaining whether the account information of its clients, such as passwords, dates of birth, user IDs, or Social Security numbers, had been illegally obtained from its system during the breach.

Minutes following the filing at the Securities and Exchange Commission, the bank announced in its website that the money of its clients remain safe under its protection.

"Unlike recent attacks on retailers, we have seen no unusual fraud activity related to this incident," the announcement stated. "You are not liable for any unauthorized transactions on your account that you promptly alert us to," it added.

JPMorgan's admission of the attack was publicly announced roughly two months following the commencement of an FBI investigation pertaining to reported intrusions into the bank's computers. Prior to the recent announcement, the investigating agency merely disclosed that the hackers illegally obtained sensitive data from the bank's systems.

The hackers initially gained access to the bank's system at some point in June. Prior to the discovery of the breach in August, the hackers reportedly made numerous attempts to collect additional data, revealed sources knowledgeable of the issue, but forbidden to disclose any information relating to it.

At present, no official information had been released concerning the identity of the hackers. However, Bloomberg News alleged in a report in August that the breach was done by Russian hackers.  

Investigators are still in the process of determining how the hackers gained access to the bank's systems repeatedly. However, the unnamed sources claim that the criminal may have infringed the computers by obtaining the passwords of JPMorgan's employees. All passwords have been reportedly reset.

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