Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., listens during a Business Roundtable CEO Innovation Summit discussion in Washington, D.C., U.S., on Thursday, Dec. 6, 2018.
Andrew Harrer | Bloomberg | Getty Images
It’s among the worst fears of any bank CEO.
A lone hacker managed to steal the personal information of more than 100 million Capital One customers, the Virginia-based bank said Monday in a release. Most of what was taken related to customers’ credit-card applications from 2005 to early 2019, including names, addresses, dates of birth and income, the lender said.
Bank CEOs including Jamie Dimon have been highlighting the risks of a cyber assault for years. Amid a steady stream of high-profile hacks, including a 2014 breach at J.P. Morgan, the industry is engaged in a cybersecurity arms race, spending ever-increasing amounts on personnel and technology projects to throw up barriers against a growing array of bad actors.
While banks have been in cost-cutting mode since the financial crisis, security budgets have exploded, in part because of the ubiquitous nature of the risks. In 2015, Bank of America CEO Brian Moynihan said that cyber defense was “
