Recent revelations surrounding hacker attacks infiltrating JPMorgan Chase & Co. leave questions about why we’re seeing an increasing number of successful attacks on major institutions. It turns out that protecting an institution full of personally identifiable information is more complex than just having a good cybersecurity team.
Hackers were able to unleash malicious software onto Chase’s internal system through a security gap in one of the bank’s consumer-facing websites. The offending group was well researched and equipped with custom malware specifically targeted at Chase. Right now the extent of the damage is unknown as investigators continue to explore the breach.