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article imageJP Morgan the victim of an 8-week long cyber attack

By Mike Rossi     Sep 14, 2014 in Business
New York - This summer's hackers discovered a way into the servers of mega-bank JP Morgan Chase, exposing the backdoor vulnerability to access copious amounts of customer and company data.
Though specific details remain unclear, it appears as though the hackers had open-entry to nearly all of JP Morgan servers for a period of approximately two months before IT security persons discovered the gateway and shut it down.
Last month, JP Morgan enlisted the help of the Federal Bureau of Investigation’s cyber-crime division to help them trace the source of the illicit network penetration. Preliminary reports suggest the stolen data was routed through a global network of remote terminals designed to protect hacker identity before reaching its final destination – an unnamed city in Russia.
Though Russian intelligence services have targeted financial institutions in the past, some industry experts believe this was more likely a private rather than state-sponsored attack due to the nature of what was accessed and stolen.
Having said that, analysts believe the attack was “beyond the capability of ordinary criminal hackers,” meaning an organized group with an impressive set of skills — like Anonymous — was likely responsible.
The hack is considered a major setback from JP Morgan's IT security efforts. The bank will spend approximately $250 million this year on cybersecurity.
More about jp morgan, Hacked, jamie dimon, Computer Fraud, security breech
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