Headline making cyberattacks have previously hit the technology and retail industries, but the financial industry was relatively spared... until recently. On August 28, JPMorgan Chase announced that the Federal Bureau of Investigation (FBI) is conducting an investigation related to a potential cyberbreach at the bank. The damage done by the breach is unclear, but the question remains: How safe are major financial institutions?
According to The Wall Street Journal, representatives from Bank of America Corp., Wells Fargo & Co., U.S. Bancorp, PNC Financial Services Group Inc., Bank of New York Mellon Corp., State Street Corp. and SunTrust Banks Inc. all said that they have not detected signs that their private information was infiltrated. Currently, the FBI’s investigation seems to be localized to JPMorgan Chase.