The cyberattack on JPMorgan Chase has affected 76 million household accounts, a far larger number than originally expected. The inroads hackers made into the bank has rattled the tech and financial community, to say nothing of Capitol Hill, where legislators are looking anew at cybersecurity legislation.
The reason for their nervousness is clear: JPMorgan Chase is probably one of the most protected institutions in the world. If hackers can successfully breach its security, what chance do other companies stand?
It's a sobering question and there is no pat response other than to treat the event as a wake up call: if a company or industry is perceived to have a rich treasure trove of data within its systems, know that it's fair game to hackers.
And what contains more rich, personalized data than customer relationship management (CRM) systems?