Mounting cyberattack attempts target JPMorgan

Major U.S. multinational financial services firm JPMorgan Chase & Co. was reported by its Asset and Wealth Management CEO Mary Callahan Erdoes to have been subjected to more attempted cyberattacks against its systems, BNN Bloomberg reports. Increasing hacking attempts have prompted JPMorgan to increase its annual tech spending to nearly $15 billion, while employing almost 62,000 technologists to ensure the security of its systems, said Erdoes at the World Economic Forum in Davos. "It's so hard and it's going to become increasingly harder and thats why staying one step ahead of it is really the job of each and every one of us," Erdoes said. While Erdoes noted that JPMorgan had been impacted by 45 billion hacking attempts daily, such a figure referred to all activity gathered from the company's assets, said JPMorgan spokesperson Joseph Evangelisti. "Examples of activity can include user log ins like employee virtual desktops, and scanning activity, which are often highly automated and not targeted," Evangelisti added.