A security hack at JPMorgan Chase & co is certain to go down in history. Seventy-six million households and seven million businesses had their names, addresses, phone numbers and email addresses exposed. The breach is said to have exposed personal information of former account holders and people who entered contact information at the bank’s online and mobile sites as well as that of customers.
When the company first discovered the data intrusion of July 2014, they announced only one million customers were affected. Although this is a large number, it pales it comparison to the actual number of affected customers. To stop the security breech, the bank closed access paths to its servers and began working with the FBI to trace the source to Russian cyber crooks.
JPMorgan is still enthusiastic that the hacks were not as bad as they could have been. He said no fraudulent activities resulting from the attacks were discovered. Further in a statement he said, “There is no evidence that account information for such affected customers—account numbers, passwords, user IDs, dates of birth or social security numbers—was compromised during this attack.”
Even though there is no evidence of fraud, experts were wary about the possibility of other fraudulent activities such as identity theft.
JPMorgan & Chase is reportedly advising its customers that they don’t need to change passwords, and it’s not offering free credit report monitoring for those affected.