J.P. Morgan Expects to Double its Cybersecurity Spending This Year

Aug. 04, 2015 04:00PM PST

J.P. Morgan Chase & Co. expects to almost double its spending on cybersecurity, accelerating its previous timeline for cybersecurity growth.

J.P. Morgan Chase & Co. expects to almost double its spending on cybersecurity, accelerating its previous timeline for cybersecurity growth.
According to the Wall Street Journal:

The bank said its annual cybersecurity budget is expected to nearly double this year, according to a quarterly regulatory filing. That would bring this year’s spending figure to about $500 million, up from $250 million in 2014.

J.P. Morgan also expects its cybersecurity spending to remain at around $500 million in 2016. The firm suffered a cyberattack last summer that involved the theft of contact information for about 76 million households.

Click here to read the full article on the Wall Street Journal.

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