JPMorgan breach brings bank cybersecurity into focus

Many other financial institutions have said they have not detected signs that their private information was infiltrated

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.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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