JPMorgan Chase & Co. (JPM): Is it the Only Bank Impacted By Recent Cyber Attack?

JPMorgan Chase & Co. (NYSE:JPM) revealed yesterday that it has become victim of a Russian cyber attack. Though the investigations are still underway, it’s believed that others bank apart from JPMorgan Chase & Co. (NYSE:JPM) have also been hit. Whereas JPMorgan was forthcoming in acknowledging that it was attacked and the scale of the attack, other banks are not declaring as of yet. We had covered the attack on JPMorgan Chase & Co. in one of our posts yesterday. Eamon Javers reported on the cyber attacks that supposedly took place due to U.S. imposing sanctions on Russia on CNBC, today.

Analysts Prefer JPMorgan Chase & Co. (JPM) Over Citigroup Inc (C)

“We he a real mystery in our hands this morning and the question is exactly who was attacked here in this attack. The FBI says that they and the secret service is investigating the attacks on several financial institutions, but who those institutions are, we don’t know. JPMorgan Chase & Co. (NYSE:JPM) has so far raised its hands and said it is dealing with the impact of a cyber intrusion [...],” Eamon said.

Eamon mentioned that other banks apart from JPMorgan Chase & Co. (NYSE:JPM), are saying that they haven’t seen any ‘impact’ whatsoever of this particular cyber attack. Wells Fargo & Co (NYSE:WFC) was quoted as saying that it has not seen an impact by the recent cyber-attacks. PNC Financial Services Group Inc (NYSE:PNC) was quoted as saying that it has no information indicating that it has been impacted. U.S. Bancorp (NYSE:USB) was quoted as saying that at this time, it has no indication that its systems or networks were impacted. Bank of America Corp (NYSE:BAC) was quoted as saying that it has not seen any unusual activity and there’s no indication that it has been attacked. Eamon highlighted that in almost all statements released by the banks, the common words were ‘impact’, ‘indication’, ‘information’. Which according to him are ‘cagey’ statements from the bank as they aren’t clearly saying that they haven’t been attacked, but are just informing that as of no yet they have no information of them being attacked.

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