http://www.northjersey.com/news/business/dimon-urges-cyberattack-strategy-1.1108945
THE ASSOCIATED PRESS
OCTOBER 15, 2014
NEW YORK - JPMorgan Chase's CEO Jamie Dimon says that more coordination
between businesses and government is needed to combat the rising threat of
cyberattacks.
New York-based JPMorgan said earlier this month that a breach of its
computer systems this summer compromised customer information pertaining
to roughly 76 million households and 7 million small businesses. Among the
customer data stolen were names, addresses, phone numbers and email
addresses.
A growing number of financial firms and major retailers have revealed
their customers' data have been stolen. Sears said Friday that a data
breach at its Kmart stores that started last month may have compromised
some customers' credit and debit cards, and Target and Home Depot have
also been the victims of cyberattacks.
While Dimon said that the coordination among his bank, law enforcement
agencies and other financial institutions has been good so far, it would
likely need to improve as the threats escalate. Dimon said that JPMorgan
had warned other banks about the attacks that it was experiencing to help
them prevent breaches on their own systems.
"Cyber is a big deal," Dimon said on a call with reporters on Tuesday.
"It's going to be an ongoing battle, and unfortunately, battles will be
lost."
[...]
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