Hackers steal dollars from JPMorgan bank account of Ray Ban

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JP Morgan Chase aka JPMorgan, one of the top banking services of America, has hit the news headlines early this year for failing to protect the account of Essilor from hackers who stole around $272m.

Though the attack is yet to be officially announced, sources reporting to Cybersecurity insiders state that, the parent company of Ray Ban has already launched a lawsuit against the banking services for failing to notify it of suspicious activity taking place in its bank accounts operating in the New York branch.

It is unclear whether the stolen money was from one account or multiple accounts. But the French manufacturer of sunglasses has sued the financial institution for breach of contract.

Details are in that the case has already come for a hearing in a court of Manhattan in April last year and information was out from the hearing that the hackers diverted the funds to bank accounts of many shell companies operating in nations operating in Europe and Asia.

Initially, the judge dismissed the case of Essilor as JP Morgan argued that the manufacturer of Ray Ban has authorized the transactions that took place in two sessions after completing the required security procedures of 2FA and such.

But again, the France-based company went for an appeal to revive the case that was accepted by the court, as the transacted money was more than a million.

NOTE 1- Any internationally recognized bank has to face the ire of the regulators if it fails to protect the identity of its customers and prevents cyber criminals from stealing their money from their accounts, respectively.

NOTE 2- More details about the case will be reported after the official conformation!

 

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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