Dec. 5 - JPMorgan Chase warns nearly half a million cash card accounts were vulnerable to hackers with personal information put at risk. Conway G. Gittens reports.
JPMorgan Chase is warning hackers may have accessed nearly half a million prepaid cash card accounts. The cyber attack was discovered in September, fixed, and reported to proper authorities, and now the bank is busy trying to find out how much data was stolen and from which customers. Cash cards are different from credit and debit cards issued by the bank. They are used by corporations and government agencies to distribute paychecks, refunds, and other compensation electronically, recipients have to enter personal information via a website and that information, normally encrypted, is stored on the bank's servers. But that security measure briefly failed, making accounts vulnerable, although the bank says social security numbers and birth dates remained protected. No replacement cards will be issued but the bank is offering free credit-monitoring services for a year. The FBI and the Secret Service are on the case - but no word yet on who was behind the attack or where they originated.