June 10, 2023

JP Morgan Chase Customers Concerned Over Data Breach That Compromised Over 80 Million Accounts

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The cyberattack that hit JP Morgan Chase, this summer, compromised customer information for about 76-million households and another 7-million accounts belonging to small businesses, the New York Times reported Thursday. The number of accounts affected is significantly
higher than first reporter in July.
“User contact information – name, address, phone number and email address – and internal JPMorgan Chase information relating to such users have been compromised,” according to a routine report filed Thursday with the U.S. Securities and Exchange Commission. “However, there is no evidence that account information for such affected customers – account numbers, passwords, user IDs, date of birth or Social Security numbers – was compromised during the attack.”

These new details has customers concerned over the data breach, adding to increased doubts over security of consumer data kept by lenders, retailers and others. After the attack, the bank promised to enhance its security measures in an effort to reassure customer who feared that their financial data risk. The new security initiatives will cost $250 million a year and will be led by a team of a thousand people, according to CNBC.

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