JPMorgan Chase Cyberattack: Almost Half A Million Corporate Customers’ Data Breached, Bank Warns
By Amrutha Gayathri
December 05 2013
Personal information of nearly half a million corporate and government clients who hold prepaid cash cards issued by JPMorgan Chase & Co. (NYSE:JPM) may have been compromised in a cyberattack that took place on the bank’s network in July, the bank warned on Wednesday.
Corporations use JPMorgan’s cash card, known as UCard, to pay salaries, while government agencies use it for issuing tax refunds and unemployment benefits. JPMorgan said it discovered in September that web servers supporting its site, www.ucard.chase.com, had been hacked, potentially involving unauthorized access to the personal information of 465,000 cardholders, according to a Reuters report.
The issue was soon fixed and the incident has been brought to the attention of law enforcement authorities, JPMorgan said, adding that the bank has been trying to identify how many accounts were compromised in the attack.