States probe JPMorgan Chase as hack seen fueling fraud
By Jim Finkle and Karen Freifeld
BOSTON (Reuters) - Two U.S. states are investigating the theft of 83 million customer records from JPMorgan Chase & Co (JPM.N: Quote) in a massive cyber attack uncovered over the summer, and more may soon join, Reuters learned on Friday.
Illinois Attorney General Lisa Madigan said she has launched a probe into the hack on the No. 1 U.S. bank by assets.
Connecticut is also investigating, said a person familiar with the matter who was not authorized to publicly discuss the probe.
"A breach of this size and significance demands a comprehensive response from the highest level of our government," Madigan said in a statement. "Thorough investigations of major breaches must be done, and the results must be shared with the public whose information and financial security is at risk, or consumer confidence will be further diminished."
Special Assistant Attorney General William Brauch, director of the Iowa Department of Justice’s Consumer Protection Division, told Reuters that other states attorneys general are discussing the matter and could launch a joint investigation.
"I would imagine a group will form, but that has not happened yet,” he told Reuters.
News of the actions by the states emerged a day after the bank said in a regulatory filing that customer names, addresses, phone numbers and email addresses were taken in the attack that the bank said surfaced in August. It added that it was continuing to investigate the matter and that customers would not be liable for any unauthorized transactions that were promptly reported to the bank.
When asked to comment on the investigations, JPMorgan spokeswoman Patricia Wexler said the company was careful not to speak more about the breach until it had “complete information.” Continued...