The FBI and US Secret Service have put to bed rumours that a recent cyber attack on JP Morgan & Chase, America’s largest bank, were sponsored by the Russian government.
The financial institution admitted in August that hackers had accessed the names and contact details of 83 million customers, making the breach one of the largest in history. However, account details, passwords, user IDs and other personal information such as birth dates and Social Security numbers are not thought to have been compromised.
At a press conference held yesterday at the Financial Services Roundtable in Washington, law enforcement figures said that the attack is believed to have been mounted by cybercriminals. The authorities rejected earlier suggestions that the hack was revenge by the Russian government for economic sanctions, put in place in protest of the ongoing hostilities with Ukraine.
“There is no indication this was the result of sanctions,” said Joseph Demarest, assistant director of the FBI’s cyber division.
Whitepapers
Related reading
2020 hailed “year of contactless” by payments study
By Richard Young The coronavirus crisis has caused a surge in mobile and contactless payments, driving consumers to make fewer but larger ... read more
Redefining remittances: Fintechs during coronavirus
By Daumantas Dvilinskas, CEO and co-founder, TransferGo According to new projections by the World Bank, remittances are set to decline by as ... read more
Crypto’s safe-haven status wavers amidst market crash
Perceptions that cryptocurrency performs autonomously from other markets is being questioned as bitcoin crashed by 50 percent on March 12. Market participants ... read more
COVID-19: our action plan
Dear reader, As the coronavirus pandemic spreads, we continue to hear and read unsettling stories from around the globe. At Payment Eye, ... read more
