JPMorgan faces 45 Billion hacking attempts per day

[Fish Mooney]

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JPMorgan Faces 45 Billion Hacking Attempts Per Day As Jamie Dimon Calls Cyber Attacks 'Biggest Thrreat To The US Financial System'
Wed, January 24, 2024 at 7:39 PM GMT+3·4 min read

When JPMorgan Asset & Wealth Management CEO Mary Erdoes took the stage at Davos, she mentioned JPMorgan Chase & Co. (NYSE:JPM) spends $15 billion on technology per year and employs 62,000 technologists, with many focused solely on cybersecurity.

Don't expect these numbers to drop anytime soon.

“There are people trying to hack into JPMorgan Chase 45 billion times a day,” Erdoes said. Even worse is that it’s already double what it was last year — and the attacks are only getting more sophisticated.

https://finance.yahoo.com/news/jpmorgan-faces-45-billion-hacking-163909860.html

[Fish Mooney]

Deepfake scammer walks off with $25 million in first-of-its-kind AI heist

Hong Kong firm tricked by simulation of multiple real people in video chat, including voices.

On Sunday, a report from the South China Morning Post revealed a significant financial loss suffered by a multinational company's Hong Kong office, amounting to HK$200 million (US$25.6 million), due to a sophisticated scam involving deepfake technology. The scam featured a digitally recreated version of the company's chief financial officer, along with other employees, who appeared in a video conference call instructing an employee to transfer funds.

https://arstechnica.com/information-technology/2024/02/deepfake-scammer-walks-off-with-25-million-in-first-of-its-kind-ai-heist/

[Georgesoros]

It is going to be harder to do business unless in person.