Around 76 million affected by massive JP Morgan Chase data breach

JP Morgan Chase, the largest bank in the United States by assets, has announced that around 76 million households have been affected by a cybersecurity attack on the bank this summer. Names, phone numbers, and email addresses of the affected customers were exposed when the financial institution’s computer systems were compromised by hackers.

The bank revealed the scope of the breach on Thursday, which is one of the biggest data breaches in history, but reassured customers that were was no evidence that any account numbers, passwords, user IDs, birth dates, or Social Security numbers had been stolen. It also added that it has not seen any “unusual customer fraud” related to the attack, as of yet.

Current account holders make up the majority of those affected by the data breach, but may also include former account holders and others who entered their contact information at the bank’s online and mobile websites, according to a JP Morgan Chase spokeswoman.

“All of this data is useful to hackers and identity thieves,” said Mark Rasch, a former federal cybercrime prosecutor. “The kind of information that was stolen is not sensitive itself, but is frequently used to validate people’s identities. Criminals could literally take on the identities of these 83 million businesses and people. That’s the biggest concern.”

“Until now the assumption has been that the companies that get breached are the ones that have poor security practices, but we know that JPMorgan had a good security program and that they invest heavily in this area,” he said. “So what we are waking up to is that the fundamental nature of security is broken.”

Read more about the story at The New York Times.

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JP Morgan Chase, the largest bank in the United States by assets, has announced that around 76 million households have been affected by a cybersecurity attack on the bank this summer. Names, phone numbers, and email addresses of the affected customers were exposed when the financial institution’s computer systems...