JP Morgan has announced that it is to nearly double its cybersecurity budget, raising it to c. $500m this year. The bank said the increase would be in addition to a previous $200m commitment and will include new initiatives such as an initiative called “Cyber Risk Insurance”.
JP Morgan has announced that it is to nearly double its cybersecurity budget, raising it to c. $500m this year. This follows the cyberattack that the bank suffered last summer which resulted in the theft of personal data of 76m households.