As more breaches come to light, JPMorgan asks for help

CEO Jamie Dimon said the bank is committing $250 million per year to heading off cyber attacks. Meanwhile, Kmart and Dairy Queen reported intrusions.

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Cyber attacks on retailers, restaurants, and banks have become so frequent that at least one CEO has publicly said organizations can’t handle the onslaught on their own.

“This is going to be a big deal, and there will be a lot of battles,” Jamie Dimon, CEO of JPMorgan Chase, said at an international banking conference. “We need a lot of help.”

The New York Times reports that Dimon also said JPMorgan—which revealed this month that 76 million households were affected by a breach over the summer—is committing $250 million per year to fighting off hackers. He said that figure is likely to increase over the next few years.

At virtually the same time Dimon was making those remarks, two more companies, Kmart and Dairy Queen, reported that they had been hacked.

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