JPMorgan Chase has made a significant discovery regarding a data breach that has impacted nearly 500,000 customers. Recent filings with the Office of the Maine Attorney General reveal that the banking giant identified a software issue that has been active since August 26th, 2021. This bug allowed unauthorized individuals to access retirement plan records of 451,809 customers, which included sensitive personal information such as names, addresses, Social Security numbers, and bank account numbers.

Fortunately, JPMorgan has resolved the issue and rectified the software bug. The bug mistakenly granted full access to multiple “authorized system users” who were either employed by JPMorgan customers or their representatives. The bank has stated that there is currently no indication that the compromised personal information has been misused. To provide support to the affected customers, JPMorgan is offering two years of free credit monitoring through Experian.

This is not the first time that JPMorgan Chase has encountered a security breach. In 2014, the bank experienced one of the largest data breaches in history due to a cyberattack. The breach impacted the accounts of 76 million households and seven million small businesses. According to reports from The New York Times, JPMorgan’s security team failed to implement two-factor authentication on one of its network servers, resulting in the theft of customers’ email addresses, home addresses, and phone numbers. However, the bank has stated that there is no evidence to suggest that account information was leaked during this hack.

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