New York, NY, United States (4E) – JP Morgan lost gigabytes of sensitive data during a mid-August cyberattack that also targeted other top U.S. banks, according to sources familiar with the investigation of the hacking.
The bank is working with the Federal Bureau of Investigation (FBI) and the United States Secret Service to determine how much data were compromised in the hacking. It is also monitoring suspicious transactions in customers’ accounts, but, so far, detected no unusual activity.
The hackers used vulnerabilities in the banks’ websites to break through layers of security and steal the data. The method bears the signature of a government-sponsored cyberattack, according to experts.
Suspicion falls on the Russian government as it could be retaliating against U.S. economic sanctions meant to punish Moscow for supporting separatists in eastern Ukraine.
“The authorities here believe that Russia is a hotbed [of hacking] and they trace back some very sophisticated attacks to Russia,” said Roy Hadley Jr., a partner and cybersecurity expert at the law firm Thompson Hine, according to The New York Post.