Quoted: on financial industry’s ‘war’ with cybercriminals

“You are going to get hacked. The bad guy will get you. Whether you are viewed as a success by your board of directors is going to depend on your response.”

Charles Blauner, global head of information security at Citigroup, who said the bank faces attacks 10 million times a month and that financial institutions are “at war” with cybercriminals. His comments, made at a cyberthreats conference in Boston, come as the nation’s largest bank, JPMorgan Chase, disclosed in a filing Thursday that a cyberattack discovered over the summer affected more than the 1 million previously thought: 76 million households and 7 million small businesses.

JPMorgan said names, addresses, phone numbers and emails were taken, but not account information, Social Security numbers or passwords. However, the New York Times‘ sources said hackers “drilled deep into the bank’s vast computer systems, reaching more than 90 servers.” There’s reportedly no evidence that money was taken. The Wall Street Journal reports that the affected servers housed information of customers who accessed chase.com or jpmorgan.com in the past few years, but the exact timeframe is unknown.


Illustration from MCT archives



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