Big security breach in JPMorgan data of 83 million compromised

Published: Thu, 02 Oct 2014 by Rad

Names, addresses, phone numbers and email addresses of the holders of some 83 million households and small business accounts were exposed when computer systems at JPMorgan Chase & Co were recently compromised by hackers, making it one of the biggest data breaches in history.

Tal Klein, vice president with the cybersecurity firm Adallom, said that the breach could undermine confidence in the security of banks and other companies that people assume are well protected from hackers.

"Criminals could literally take on the identities of these 83 million businesses and people. That's the biggest concern," he said.

For the second time in roughly three months, JPMorgan Chase is scrambling to contain the fallout from a security breach of its vast computer network, according to several people with knowledge of the investigation.

The discovery follows an attack that was uncovered in late July and suggests that it was more extensive than first thought. In that attack, hackers obtained entry to dozens of the bank's servers and reviewed information on more than one million customer accounts. Security experts briefed on the matter had said that the full extent of the July attack was not known and that it could take the bank months to discover all of the fallout.

"We are not aware of any new attack," Kristin Lemkau, a spokeswoman for JPMorgan, said. Any report that there was a second breach is false, she added.

Still, JPMorgan advised customers on its website that it does not believe they need to change their passwords or account information.

The original hack sent ripples through the financial system and prompted an investigation by the Federal Bureau of Investigation, even as Wall Street, which has been a frequent target for hackers in recent years, worked to guard against the threats.

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