Asking Local Experts: How Worried Should Chase Customers Be About Security Breach?
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(CBS) – The nation’s biggest bank is the latest target of a cyber-attack.
JP Morgan Chase says it’s not noticing any unusual activity. But the hackers may have the keys to your checking and savings accounts.
CBS 2’s Derrick Blakley reports.
The data breach left some customers understandably shaken.
“I have savings and checking with them. I hope it’s not in jeopardy,” Idy Ciss says.
Chase employs 1,000 people and spends more than $250 million a year on cyber-security. Its system, like those at other banks, is among the most complex and sophisticated anywhere.
It’s a new chapter in the computer security battle.
“These are the next juicy targets, and as the hackers get more sophisticated, this is the place they’re going to go,” DePaul University Prof. Jacob Furst says.
In August, criminals hacked the computers of 1,000 grocery stores at Jewel-Osco’s parent company. Last year, hackers stole 40 million credit accounts at Target. But computer-robbing a bank is different.
“They have got information that can be used to drain customers’ accounts. So, they have got the keys to the kingdom in this regard,” says Prof. William Kreese of Governors State University.
And there’s speculation Russia could be behind the hacking — retaliation against the U.S. for financial sanctions over Ukraine.
Again, Chase says it hasn’t noticed any unusual fraud activity as of yet.
As many as four other U.S. banks may also have been targeted.
The FBI and Secret Service are investigating.