JP Morgan has built a digital security team of more than 1,000 people, many of whom are ex-military cyber security officers, to combat online threats, Bloomberg’s Jordan Robertson and Michael A Riley reported.
The bank does not believe the US government is doing enough to protect cybersecurity, the report said.
The deepening focus on online security follows a June 2014 cyber attack that bank managers believe was linked to the Russian government.
JPM’s security head, James Cummings, who used to run the Air Force’s cybercombat unit, also believes the Chinese and Iranian government post major threats.
After last summer’s attack, CEO Jamie Dimon promised to increase security spending.