Over 83 million households and small business accounts at JPMorgan Chase & Co had their personal information exposed after one of the biggest data breaches in history.
The bank, which is the largest in the United States, revealed that its computer systems were recently compromised by hackers, exposing the names, addresses and email addresses of millions of account holders, including current and former account holders and individuals who entered their contact information on the bank’s online portals.
Although there was no evidence that account numbers, passwords, birthdates or Social Security numbers had been stolen, security experts have advised that scammers may attempt to use the exposed information to engage in various types of fraud. Fears have been raised, for instance, that criminals could attempt to use the information to steal the identities of businesses and individuals and engage in cybercrime.
JPMorgan chief operating officer, Matt Zames, sent an email to employees, describing the attacks as “highly unfortunate and also a reminder that we all must be increasingly vigilant in the cyber world.”
The case highlights the far-reaching consequences of data breaches for both customers and businesses, and the importance of ensuring data protection remains a priority.
Talk to GRC Solutions today about our Data Protection course.
Source: Wall Street Journal