"The security of your Chase accounts is one of our highest priorities", JP Morgan/Chase states after multiple rumors of an important data breach started spreading days ago throughout multiple cyber security circles.

Rumors of personal information breaches and unauthorized fund withdraws have been making their way around, while JP Morgan relinquishes zero information on the validity of these claims.

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Evidence of the fact have been pieced together, making it more and more evident that it may be closer to truth rather than rumor - yet still no word from JP.

For insiders, news that the major bank had been victimized was not too shocking given the current cyber-crime wave hitting major corporations, this merely being the latest headline from the digital crime wave that appears ever growing and impetuous.

However, for the millions of customers of JP Morgan/Chase, the shocking news was the first insight, not only to the fact that their personal information might have been illegally obtained by hackers and with their intentions unknown, but also a vision of hacker capabilities with advancing technology.

Much like the cases with Neiman Marcus, Target, and numerous other multi-million dollar corporations, the nation's leading and largest bank decided to keep evidence of this personal information 'cyber-crime' from the public and consumers. If it had not have been for various reporters and journalists that forced the issue, the information would have been kept from the consumers, at the very least for a particular length of time.

This uncommunicativeness is both deeply ingrained within commercial America, and to some consumer advocates, deeply exasperating.

Had a family's precious heirloom been stolen from a vault safety deposit box, any business would have swiftly notified the proper authorities and the affected victim of the particular theft. However, the theft of one's highly personal data, especially when it happens to a vast amount of people, is treated or handled in a very different way.- both by what the law states, as well as by the "industry standards".

Officials explain that some reasoning behind the delayed notification is to not alert the supposed hacker-theives when actively investigating the ongoing theft or data breach. Even though, customers feel they should be notified immediately.

The current end-result is that days, weeks, months, or sometimes even longer can pass by after the company learns of the potential or definite security breach before its customers will actually learn of any issues.

Security experts say it is crucial for customers to know of a possible security issue as soon as possible. That way they can protect themselves better by monitoring transactions, changing passwords, or notifying credit card companies or credit holders alike - where the risk of identity fraud or theft is relatively elevated.

A consistent amount of state laws that have passed over the past ten years have mandated particular companies to notify customers in a "timely manner" about data security breach that directly affects them. However, The result is a mix-match of guidelines and stipulations that, in the event of security instability, force companies to disclose any breach information, yet rarely ever require them to do so in a speedy-fashion catering to the consumers preference.

Consumer Program Director at U.S PIRG Ed Mierzwinski states, "There have been numerous breaches where companies have held information for so long that more disclosure would force companies to do a better job being accountable to consumers".

The gravity of the JPMorgan Chase security breach occurrence,  which involves one or more other banks as well, remains uncertain. However, at this time, it is speculated that certain personal information was indeed stolen or tampered with.

JP Morgan states a spokesperson for the JP Morgan Chase & Co. will contact the particular customer if their investigation determines that the consumer indeed has been 'directly' impacted - the company will be the one(s) to determine if you fall under that category. The bank has not released any information on if, when, or why you will be contacted. 

FBI is currently investigating the information breach, and will release further information on the subject at a later date. The FBI believe this is connected to a string of "Russian hacker" instances that seems to be targeting large corporations, but they cannot confirm that at this time.

TagsJP Morgan Chase, security breach, J.P. Morgan Chase & Co., cyber crime