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Top Treasury Officials Charge Banks With Fortifying Split Times

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Regulators want detailed plans about protecting your free tee-shirts from Russian hackers, too.

This summer’s huge cyberattack on JPMorgan Chase and a dozen other financial institutions is accelerating efforts by federal and state authorities to push banks and brokerage firms to close some gaping holes in their defenses. Top officials at the Treasury Department are discussing the need to bolster fortifications around a critical area of cybersecurity: outside vendors, which include law firms, accounting and marketing firms and even janitorial companies, according to several people briefed on the matter...JPMorgan discovered the attack on the Corporate Challenge website on Aug. 7, and learned of the far broader breach of its own system about a week later. The attack on the bank’s network — which enabled the hackers to gain a high level of system privileges on more than 90 servers — began sometime in June and went undiscovered by JPMorgan for about two months, said another person briefed on the matter who spoke on condition of anonymity. The length of the attack — a two-month period when hackers roamed freely through JPMorgan’s systems — has not been previously reported. Two months may seem a long time for largely unfettered access, but security consultants note it is not uncommon for hackers to rummage through a big company’s network for several months before being detected.

After JPMorgan Chase Breach, Push to Close Wall St. Security Gaps [Dealbook]