Hackers Steal Data of 465K Prepaid Card Holders

The incident happened in September

   

Hackers Steal Data of 465K Prepaid Card Holders

JP Morgan 300x199 Hackers Steal Data of 465K Prepaid Card HoldersOne of the nation’s largest banks has alerted nearly half a million customers with prepaid cash cards that an online security breach may have compromised their personal data.

On Wednesday, JPMorgan Chase (JPM) said that hackers had penetrated its servers back in September. A spokesman for the bank would not reveal specifics about the breach, but JPM is alerting 465,000 people with prepaid cash cards that are thought to have been affected by the breach. JPM does not believe that social security numbers or other key data was stolen, but says it is possible that hackers may have obtained other account data, Reuters notes.

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JPM disclosed the breach to law enforcement agencies after it was detected. The affected prepaid cards represent about 2% of the bank’s 25 million prepaid card customers. The cards are widely used by employers for payroll purposes and for the disbursement of government benefits and tax refunds. Only UCard prepaid cards were involved in the breach. Data pertaining to JPM’s prepaid Liquid cards, as well as its debit and credit cards was not accessed by the hackers.

Customers whose cards were affected by the hack are being offered 12 months of credit-monitoring to prevent potential fraud.

Shares of JPM were flat in Thursday premarket trading.


Article printed from InvestorPlace Media, http://investorplace.com/2013/12/hackers-steal-data-465k-prepaid-card-holders/.

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