JPMorgan Says 76 Million Households Compromised by Data Breach

Financial giant JPMorgan Chase is no longer investigating a possible cyberattack. The firm is now offering details about how bad the summertime breach really was.

Brace yourself because the news isnEUt good, whether you are a Chase customer or not. It turns out the accounts of 76 million households were compromised in the attack. On top of that, another 7 million small businesses were compromised. The bottom line: ItEUs much, much worse than we thought.

In a Securities & Exchange Commission filing, the firm revealed that user contact information, including names, addresses, phone numbers and e-mail addresses were compromised. The silver lining in the dark data breach cloud is a lack of evidence that account information for affected customers, such as account numbers, passwords, user IDs, dates of birth and Social Security numbers were compromised.

The Even Worse News

JPMorgan Chase is one of many large breaches dominating the headlines these days. Mike Flouton, Vice President of Product Marketing at cloud security firm SilverSky, told us there are a few reasons for the upward trend.

EUFirst, the bad guys are getting better and more bold, hitting bigger targets successfully,EU Flouton said. EUBut an important, yet more subtle point is that large organizations like JPMorgan Chase, Target and Home Depot invest more in detection and response capabilities, and are in a much better position than a smaller retailer or community bank to notice a breach.EU

While breaches often do leave telltale signs, Flouton said they are much more difficult to spot than broken windows and drilled vaults. From his perspective, itEUs a safe bet that a staggering percentage of data breaches are never discovered -- and when they are discovered are kept out of the news.

EUComplicating things is that we, as a society, are becoming desensitized to data loss, and it takes increasingly larger breaches to...

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