JPMorgan’s breach is the worst in history

JPMorgan's security breach is shocking for several reasons.

For one, the victims of these attacks are usually retailers that don't have access to either extensive customer financial information or expensive security systems. JPMorgan is the U.S.'s largest bank, and as such, has both. The institution currently boasts 65.8 million open credit accounts and 30.1 million checking accounts, and is its website is the most visited financial services site in America. 

The fact that hackers were able to penetrate this bank's extremely sophisticated, expensive and state-of-the-art security equipment is highly disturbing. Not only did the cyber-criminals surpass these safety measures but they gained top administrative control over dozens of the servers. Experts have expressed confusion over the fact that the hackers did not steal account information that could translate into instant profits. Instead, they took customer names, addresses, phone numbers and birth dates. 

However, Americans shouldn't start relaxing just because more data wasn't stolen. Thieves can still use general personal information to commit cyber-crimes, like phishing. To do this, criminals send emails to customers pretending to be the bank and asking for sign in credentials. Phishing also occurs over the phone, using automated messages demanding PIN and credit card numbers. Anyone with a JPMorgan account should stay vigilant and be aware of fraudulent sites. 

Some consumers are annoyed with the figures JPMorgan has reported concerning the breach. Namely, that 76 million households were affected. "Households" is a term that deflates the number of customers who actually might have had personal information stolen, because individuals in one house could all have accounts with JPMorgan. So, many are concerned that the breach is much larger than initially thought to be. 

If you don't think your store is properly protected, then update your credit card payment software to protect you and your customers.

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