Big banks are cutting off electronic data sharing with a key US regulator after a massive security breach.
OCC Email System Hacked
JPMorgan Chase and BNY Mellon have stopped sending data to the Office of the Comptroller of the Currency (OCC) following a serious security incident. The OCC revealed that unauthorized access to several employee and executive emails occurred. This breach involved “highly sensitive information” about the financial health of banks under the OCC’s supervision. The OCC considers this a “major information security incident” and has notified Congress.
Sensitive Data Compromised
Sources say the leaked emails contained not only standard financial data but also highly confidential details related to terrorism, espionage, and other investigations.
Banks Respond, OCC Investigates
Both JPMorgan and BNY Mellon refused to comment publicly. The OCC stated that they’re working with cybersecurity experts to investigate the breach and review their IT systems. They also assured banks that on-site examiners still have access to necessary information for regulatory oversight, while maintaining data security. The OCC is keeping the affected banks updated as the investigation continues.
