Business

Cyberattack Against JPMorgan Chase, Other Banks Might Have Left Accounts Compromised

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NEW YORK (CBSNewYork/AP) — Several major banks, including JPMorgan Chase, appear to be victims of a cyberattack.

The FBI is investigating the security breach. The hackers targeted JPMorgan Chase & Co. and at least four other banks in what’s been described as a coordinated cyberattack, CBS 2’s Sonia Rincon reported. They may have acquired information that could be used to drain customer checking and savings accounts.

So far, there have been no reports of any financial losses for customers.

A statement from JPMorgan Chase, the largest U.S. bank by assets, did not reveal what may have been comprised, only saying: “Companies of our size unfortunately experience cyberattacks nearly every day. We have multiple layers of defense to counteract any threats and constantly monitor fraud levels.”

A report on Bloomberg.com Wednesday said that the FBI is investigating whether Russian hackers attacked the U.S financial system this month in possible retaliation against U.S. government-sponsored sanctions aimed at Russia.

Bloomberg cited security experts saying that the attack appeared “far beyond the capability of ordinary criminal hackers.”

The FBI and Secret Service said they are working with the banks to get to the bottom of it.

In a statement, the FBI said: “Combating cyber threats and criminals remains a top priority for the United States Government, and we are constantly working with American companies to fight cyber attacks.”

A world economic forum report last year took a look at how big of a problem cyberhacking is for online businesses. Eighty percent of executives surveyed said their organizations just can’t keep up with the increasing sophistication of the hackers.

Banks must disclose to customers when their information has been compromised. But in this case, the banks may not know yet if that happened. If it did, any notification could take a few days.

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