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Feds close in on JPMorgan hackers

Monday, March 16, 2015 - 01:16

U.S. authorities are confident they can file a criminal case against hackers who stole data from JPMorgan Chase, according to the New York Times. Fred Katayama reports.

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U.S. authorities think they can nab some of the suspects who hacked JPMorgan Chase's computer systems last summer. The New York Times reports officials are confident they can file a criminal case against the hackers in the coming months. It turns out the attack wasn't as sophisticated as first thought. So authorities have managed to identify some suspects in the early stages. Bank officials would not comment. The cyberattack against Morgan was massive. Hackers stole email addresses and phone numbers on 83 million households and businesses, making it one of the largest attacks ever against a bank. Making arrests are often difficult in big hacking cases. No criminal charges have yet been filed in the cyberattacks that took place over the last two years striking Target, Home Depot and eBay. Often, cybercrimes are committed internationally where it's hard to make arrests, the Times notes. But in the JPMorgan case, it said several suspects live in countries that have extradition treaties with the U.S. For Morgan, the cost of bolstering its digital security is as massive as the attack. The bank spends roughly a quarter of a billion dollars on cybersecurity a year. And it sees that doubling over the next few years.

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Feds close in on JPMorgan hackers

Monday, March 16, 2015 - 01:16