JP Morgan Hacked

JP Morgan Hacked

Even financial giants like JP Morgan are falling victim to cyber attacks.

According to the New York Times, hackers gained entry to dozens of the bank’s servers over a period of two months. This potentially gave the hackers a window into how the bank’s individual computers work. Hackers were able to review information about a million customer accounts and gain access to a list of the software applications installed on the bank’s computers. Over 90 servers may have been affected. It might be difficult for the bank to find every last vulnerability and be sure that its systems were thoroughly secured against future attack, according to an anonymous source quoted in the NY Times article.

While the cyberattack took place in June, JPMorgan did not detect the intrusion until July. JPMorgan briefed financial regulators on the extent of the damage last week. To date, no unusual fraud activity has been detected. Investigators say they believe that at least four other banks or financial institutions were also affected. JPMorgan is now working with the FBI to investigate and remediate the breach.

The infiltration is believed to have begun as a phishing attack, which infected an employee’s personal computer with malware that drilled a VPN tunnel into JPMorgan’s systems. This serves as further proof that employees are a key link in the security of a business’ technology infrastructure and company data. Without end-user training on security best practices and policies, it is impossible to secure your information resources or ensure data privacy.

This latest high-profile breach is further evidence that proper cyber security is essential. ACE IT Solutions’ Security Services, offered in partnership with IBM, provide a simple and cost-effective way to limit potential threats 24×7. Through our partnership with IBM, ACE IT Solutions leverages one of the world’s largest collections of security information to combine advanced analytic capabilities into cloud-based security services that can be mixed and matched according to each business’ specific needs. Contact us today for a free security assessment.

Read more in the NY Times, here.