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Cyber insurance demand is already skyrocketing and the news that helps create the demand just keeps on coming.

 One of the world’s biggest banks, along with brokerages and a major business news publication, were targets of hackers who pulled off the largest theft of customer data from a US financial institution in history, and charges have been announced against four men.

The bank was JPMorgan Chase & Co, according to Trish Wexler, a company spokeswoman.

The charges against four men, including Anthony Murgio, who were all previously arrested, broaden the scope of a wide- ranging hacking probe. Among the alleged victims was “one of the world’s most widely circulated financial news publications,” according to the indictment.
The scheme ran from 2012 to mid-2015. In addition to the hacks on the U.S. financial sector, the defendants targeted other companies and laundered their “vast criminal proceeds” through at least 75 shell companies, according to the indictment.

U.S. Attorney Preet Bharara in Manhattan has scheduled a press conference for Tuesday to explain the charges.

According to the indictment, one of the defendants “directed network intrusions” into nine targets and stole personal information “of over 100 million customers in these companies.”

In addition to Murgio, prosecutors charged Gery Shalon, Joshua Aaron and Ziv Orenstein. Murgio was previously tied to a cyber-attack on JPMorgan in an FBI memo.
Bloomberg News, Greg Farrell and Patricia Hurtado

Cyber liability discussion

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