JPMorgan Chase – how a $2 trillion company exposed 76 million households
When you’re looking to steal money, you don’t rob a person or store that doesn’t have any. It’s counterproductive. You focus on the stores, organizations and individuals that have enough cash to make the reward worth the effort.
The same thing can be said for cyberattacks.
When you’re looking to perpetuate a cyberattack for financial gain, there’s no better target than financial services companies and retailers. It’s for this reason that banks, major retailers and hospitality companies are some of the organizations most frequently targeted and breached by cyber thieves.
Just ask JPMorgan Chase – one of the world’s largest financial services companies with assets of more than $2 trillion.
In October of 2014, JP Morgan Chase issued a regulatory filing to the U.S. Securities and Exchange Commission (SEC) stating that, “User contact information – name, address, phone number and email address – and internal JPMorgan Chase information relating to such users have been compromised.” According to the company, “The compromised data impacts approximately 76 million households and 7 million small businesses.”
The size and scope of the JPMorgan Chase breach, how it was perpetuated and what could have been done to avoid it was one of the topics that Authomate CEO, Jeff Schmidt, and Savanture CEO, Doug Howard, discussed in a recent Webinar entitled, “Anatomy of a Breach.”
Click HERE to watch the replay of the “Anatomy of a Breach” Webinar (registration required)
Here is a video from the Webinar which includes Jeff and Doug discussing the JPMorgan Chase breach, how it occurred, what was compromised and what organizational changes could have been made to either prevent the attack or minimize its impact:
To watch the, “Anatomy of a Breach,” Webinar – which dives deep into the breaches that impacted Anthem, JPMorgan Chase, OPM, Starbucks and DropBox – in its entirety, click HERE (registration required).