JPMorgan CEO says more to be done on cyberattacks

[InfoSec News <alerts () infosecnews org>]

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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