Wall Street Hacks: JP Morgan Chase Hacked by Sophisticated Hackers

Wall Street Hacks: JP Morgan Chase Hacked by Sophisticated Hackers

Companies in the U.S. are the usual targets of hackers both local and international. But the latest cyber attacks on Wall Street firms have become a cause of concern for federal authorities.

JP Morgan Chase Hacked

JP Morgan Chase has announced that investigation is still being conducted to determine if there was an attack. The possible data breach in JP Morgan seems to indicate that hackers are now setting their sights on major banks as the level of their attack are becoming more sophisticated.

The Huffington Post quoted cybersecurity expert Jacob Alcot regarding the hacking attacks. He said, "The fact that even these companies can experience a successful attack should definitely raised eyebrows because they spend the most money and have the most sophisticated defenses."

The spokeswoman for JP Morgan Trish Wexler issued a statement to assure their clients and the general public. She said, "Companies our size unfortunately experience cyber attacks nearly every day. We have multiple layers of defense to counteract any threats and constantly monitor fraud levels."

Data Has Been Stolen

The New York Times reported credit card and saving accounts information and other important client information may have been stolen. Aside from JP Morgan, four other banks have also been reportedly hit. Bloomberg reports that even employees' computer terminals were hit and sensitive information was taken.

Culprit in the Cyber Attack

Based in a report of the Huffington Post, the culprit possibly points to Russian hackers who are believed to have the sophistication to carry out such attacks. Russian hackers have often targeted banks because of the financial payout it may give. Chinese hackers prefer to steal intellectual property rights.

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