JP Morgan Chase, the largest US bank by assets, experienced technical difficulties on 18 March that resulted in customers’ bank accounts being temporarily unavailable.

Free Whitepaper

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:

Traditional vs zero trust protection
Key advantages and solution providers
Major industries and key players
Drivers and challenges
Top funded startups and Mergers & Acquisitions
Implementation challenges

By downloading this case study, you acknowledge that GlobalData may share your information with GlobalData and that your personal data will be used as described in their Privacy Policy Visit our Privacy Policy for more information about our services, how GlobalData may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Customers who logged on to their mobile or online accounts saw a zero account balance or were unable to gain any access to the account at all.

A spokesman for the bank said the problem was due to an internal glitch and not the result of hacking.

The bank did not disclose what the cause of the error was, or how many customers were affected.

The problem was resolved within two hours.

JP Morgan Chase was hit by a distributed denial of service attack on 12 March which took some of its services temporarily offline.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Tick here to opt out of curated industry news, reports, and event updates from Retail Banker International.

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Related articles:

JP Morgan Chase website goes down after cyber assault

JP Morgan Chase launches reloadable prepaid card

JPMorgan to cut 7% of workforce by 2015