October 6, 2014

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76 Million Households Affected By JP Morgan Data Breach

JP Morgan Chase has disclosed details of their summer 2014 server breach in a filing with the Securities and Exchange Commission – and some of the information is downright scary. The bank says that 76 million households and 7 million small businesses had their personal information compromised, which makes it one of the largest cyber attacks ever. It is believed that the attack began in June, even though it was not discovered until July. Executives initially estimated that 1 million accounts were affected by this breach…looks like they were only off by a measly 75 million.

The “Good” News and the Bad News

Nothing about the JP Morgan data breach is good, but the bank did say that they have no evidence that would lead them to believe any account information was affected. This means that account numbers, Social Security numbers, user IDs, passwords and dates of birth should all be safe. No money has been taken from customers and all personal financial information seems to be secure for now.

The bad news is that contact information for the bank’s customers was compromised. Information that may have been stolen includes:

  • Names
  • Phone numbers
  • Addresses
  • E-mail addresses

The bank noted that only customers who use the websites Chase.com and JPMorganOnline.com, and the apps ChaseMobile and JPMorgan Mobile were affected.

The Worse News

We’ve heard a lot recently about various retailers – Home Depot, P.F. Chang’s, Michael’s, and UPS – who have dealt with some pretty major breaches. Bank cyber attacks, however, are more rare due to the fact that they generally have some of the best security in the world. And JP Morgan Chase? They are the largest bank in the nation. The fact that hackers were able to find an entry point into their system is alarming and should be a wakeup call for all financial institutions.

Now that some of the most sophisticated computer systems have been hacked, it is more important than ever for consumers to protect themselves. Even if you are not a victim of the JP Morgan data breach, your personal information is still vulnerable and could be compromised at any time.

IdentityForce stays vigilant for you 24/7 to keep your credit and personal information secure, and we also notify you as soon as we detect any kind of suspicious activity. With our identity and credit monitoring service, we keep an eye on everything: any attempts to change your address, obtain a payday loan using your Social Security number, or steal your identity. No matter where you are or what you’re doing, IdentityForce is always working to make sure you are well protected.

Image courtesy of Flickr user Ben Sutherland.

Melanie Medina

Sr. Director of Digital Marketing at IdentityForce
Melanie is a native of Bolivia who has lived in Boston for over 10 years. She likes to make time to travel, jog, read, and play backgammon. Fueled by copious amounts of coffee, Melanie stays on top of her to-do list while also keeping abreast of identity theft issues. Serious data breaches are happening all the time in the U.S. and Melanie loves being part of a solution that brings peace of mind to families across the country.

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