JPMorgan security breach may not be serious, industry group says

You know those recent reports about a major cyber attack on JPMorgan Chase and possibly other banks? Well, don’t start withdrawing your cash and stuffing it under your mattress just yet.

The Financial Services Information and Analysis Center – a bank industry group – has emailed its members that  “there are no credible threats posed to the financial services sector at this time,” according to Reuters, which obtained the email.

JPMorgan has said it is working with federal law enforcement agencies to investigate reports that an organized gang of hackers, possibly from Russia, had compromised the bank’s security. But the industry group told its members it sees no reason to raise its barometer of cyber threats, noting that banks are frequently under attack from various miscreants.

The group said it was “unaware of any significant cyber-attacks causing unauthorized access to sensitive information at any member institutions.”

Illustration by KRT archives


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