The increasing number of daily hacking attempts against JP Morgan Chase systems over the past year is a noteworthy development that underscores the escalating cybersecurity issues that Wall Streets giants and banks face.
To strengthen its protection against cybercrimes, JP Morgan Chase bank engaged over 60,000 technologists and invest $15 billion annually.
Fraudsters are envolving becoming more cunning, nimble, clever, and mischievious individuals.
A spike in cyberattacks has been observed by banks in the United States and Europe, some of these operations have been attributed to Russian entities as payback for the sanctions placed on Russia following its invasion of Ukraine.
Artificial Intelligence is developing at a faster pace than before, which has resulted in more sophisticated attacks.
The international Monetary Fund’s deputy managing director, Gita Gopinath, raised alarm about hackers using AI and the possibility of a big event occuring before solutions are established.
