What JP Morgan Chase Said About The Hack

We found that JP Morgan Chase said a lot more about the hack that stole customer information in its filing with the Securities and Exchange Commission (SEC) than it told its customers.

If you log on to ChaseOnline and go to your account, you’ll see a line that says, “Important Update About Cyber Security.” Click through on the “Learn More” and you’ll find that Chase explains it discovered a hack and found customer information compromised.

But here’s what we found JP Morgan Chase said about the hack to SEC on October 2, 2014.

The company said the hack affected the information of 76 million individuals and 7 million companies. User contact information including names, addresses, phone numbers, emails and what Chase describes as “internal JPMorgan Chase information relating to ….users” was also obtained by the hacker, or hackers.

Chase says there’s no evidence of compromised account information including account numbers, passwords, ID’s, dates of birth or Social Security numbers.

And so far the company hasn’t uncovered any fraud, but it promised to cover losses if hackers dip into customer accounts.

On the deep pages of its website, Chase apologized saying, “We’re very sorry this happened and for any uncertainty this may cause you.” Its message went on to say, “Attacks like these are frustrating. There are always lessons to be learned, and we will learn from this one and use that knowledge to make our defenses even stronger.”

The bank’s calm message doesn’t reflect behind-the-scenes damage control. Instead it reassured, “Your money at JP Morgan Chase is safe,” and, “We don’t believe you have to change your password or your account information.”

At least that’s good news. How many passwords have you changed recently?

But the latest financial corporate security breach leaves us all to wonder what the hackers plan to do with our information.

 

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Barbara Nevins Taylor

As the winner of 22 Emmy Awards and a slew of journalism honors and awards, I created ConsumerMojo.com to give you the straight story about complicated stuff. Tell us what you want to know and we'll get you the answers.