JP Morgan loses 76 million customer records......

Here we go again. 

December 2013 Target announces losing 40 million customer accounts due to their crappy outsourced IT.

Sept 2014 Home Depot announces losing 60 million customer accounts due to their crappy outsourced IT.

October 2014 JP Morgan announcing losing 75 million customer accounts due to their crappy outsourced IT.

Notice a trend?

http://dealbook.nytimes.com/2014/10/02/jpmorgan-discovers-further-cyber-security-issues/?_php=true&_type=blogs&_r=0

Here JP Morgan is announcing they are sending more IT work to India.  Home Depot did the same thing.  Target did the same thing.  They all ended up with the exact same results.

Notice a trend?

http://www.businessweek.com/globalbiz/content/mar2009/gb2009039_431274.htm

You thought JP Morgan was only incompetent when it came to the financial crisis.  You didn’t even know their incompetence extended right into their IT dept too. 

Yup JP Morgan might be too big to fail…. but they are not too big to be completely incompetent.

All these companies love to pretend how secure they all are.  But the reality is they have no idea how to secure their networks.  Neither do their outsourced workers in India.  Hackers were in the JP Morgan network for a month before anyone had any idea something was a miss.  That is not good.

When Target screwed up who really cared…I mean middle class people shop there.  But JP Morgan has the fat cats.  The big tycoons.  The fat cats are not going to take kindly to JP Morgan saving a buck (by going to India) resulting in all their clients financial data being compromised.  I bet there will be a lot of yelling.