Chase Bank Joins the Growing List of Institutions Affected by Data Leaks

In an unexpected turn of events, Chase Bank suffered a data leak on August 17, 2021 that exposed the personal information of online banking and mobile app customers to other Chase Bank members who shared similar information. 

According to Chase, a technical bug on its website and app “mistakenly allowed [other] customer[s] with similar personal information to see your account information on chase.com or in the Chase Mobile app, or receive your account statements.”

This included names, account numbers, banking statements, and transaction lists. This news comes as a shock after the banking giant suffered a massive data breach in 2014 that compromised over 83 million accounts. 

Though it isn’t imminently clear how many individuals were affected by the latest data breach, the vulnerability did occur between May 24 and July 14, 2021. 

Not knowing the source of vulnerability presents a formidable challenge. Without any insight into where or how the vulnerability had originated at a microscopic level, investigation can be costly and time-consuming. It’s a disaster waiting to happen – a needle in a haystack situation. On top of that challenge, vulnerabilities are not isolated situations. In this case, Chase had security weaknesses across both platforms –their website and mobile app – leading to multiple access points and multiple points of risk. 

We’ve seen time and again how data breaches can happen to the companies we trust most. Regardless of size or industry, any company that collects and stores data is at risk. 

At Dasera, we secure the entire data lifecycle from creation and deletion – from the moment a piece of data enters a database, to how it gets used and who has access. 

People work their entire lives to save and plan for their future. Yet, data breaches and subsequent identity theft can wipe out years worth of financial planning and future goals. These breaches not only jeopardize the faith that customers place in companies, but also the lives of thousands if not millions of users – simply because they decided to share their most confidential details. 

One thing is certain. Companies have a responsibility to protect their customers’ data. After all, they’ve trusted you with this vital information. Let’s give data the proper respect it needs by keeping it secret.

Learn more about Dasera to find out how you can better secure your data. 

Author

Tu Phan