Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

Wall Street gets Fed reality check
Wall Street gets Fed reality check - 01:51
Reuters Today: Spanish yields seen rising at auction
Reuters Today: Spanish yields seen rising at auction - 06:21
Surprise services boost points to UK recovery
Surprise services boost points to UK recovery - 02:54
Breakingviews: Do as I say, not as I do – German wages
Breakingviews: Do as I say, not as I do – German wages - 05:04
Market Pulse: Spain under fire as investors shun bond sale
Market Pulse: Spain under fire as investors shun bond sale - 03:28
Myanmar's Kyat begins managed float
Myanmar's Kyat begins managed float - 01:59
ASEAN: territorial code of conduct draft by year-end
ASEAN: territorial code of conduct draft by year-end - 01:48
U.S. Morning Call: Stock futures down, JPMorgan to be fined
U.S. Morning Call: Stock futures down, JPMorgan to be fined - 02:08
EMEA Day Ahead:: Thursday
EMEA Day Ahead:: Thursday - 03:13
3XSQ: Customer funds in question; royal return
3XSQ: Customer funds in question; royal return - 05:44
Still cashing in? Hirst retrospective
Still cashing in? Hirst retrospective - 02:32
World's biggest car delivery center
World's biggest car delivery center - 02:41
FACTBOX: Titanic the movie sails again
FACTBOX: Titanic the movie sails again - 02:20
Trading at Noon: Wall St. down on lost hope for stimulus
Trading at Noon: Wall St. down on lost hope for stimulus - 02:48
Draghi holds rates, offers caution
Draghi holds rates, offers caution - 01:50
Breakingviews: Gun bubble redux
Breakingviews: Gun bubble redux - 02:51
Yahoo cuts 2,000 jobs
Yahoo cuts 2,000 jobs - 01:15
Easter egg panic in eastern Europe
Easter egg panic in eastern Europe - 01:28
Wealth Strategies: Equity rally has 3 years left in cycle
Wealth Strategies: Equity rally has 3 years left in cycle - 06:05
Congressional insider trading ban
Congressional insider trading ban - 01:17
Gas prices no detour for car buyers
Gas prices no detour for car buyers - 02:13
Demand for fuel-efficient cars will outlast spike in gas prices
Demand for fuel-efficient cars will outlast spike in gas prices - 02:36
Most engines of growth are in emerging markets : Nissan CEO
Most engines of growth are in emerging markets : Nissan CEO - 05:39
U.S. Day Ahead: GAP set to shine with same store sales
U.S. Day Ahead: GAP set to shine with same store sales - 01:59

JPMorgan Chase confirms possible cyber attack

Thursday, August 28, 2014 - 01:20

Attackers stole checking and savings account information and lots of other data from JPMorgan Chase, according to the New York Times. Other banks are believed to be victims as well. Fred Katayama reports.

▲ Hide Transcript

▶ View Transcript

Cyber attackers reportedly struck JPMorgan Chase and several other U.S. banks, and now, the FBI says it's investigating. The New York Times says the attackers stole checking and savings account information and lots of other data. JPMorgan would only say that companies of its size get attacked nearly every day. Bloomberg News reports that Russian hackers were believed to have carried out the attacks. If true, it would represent the latest in a series of cyber attacks aimed at U.S. corporations. Hackers stole payment card data from Target at the height of the holiday shopping season last year. Earlier this year, retailers Neiman Marcus and Michaels Stores said they had been attacked. JPMorgan Chase stock shedding some ground in early trading Raymond James senior research associate Daniel Marchon says the cyber attacks could hit the banks' bottom line in two to three years. He says this could mean bank's hefty outside expenses on things like regulatory compliance won't come down but would rather be extended. He said, "The frequency, intensity, and success rate ticked up from hackers. So there's likely to be a more concerted effort by banks to shore up their defenses." And that, he says, may mean reallocating money for streamlining ATMs and apps over to cyber security.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

JPMorgan Chase confirms possible cyber attack

Thursday, August 28, 2014 - 01:20