Infinit-O

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Infinit-O Company Profile, Stock Price, News, Rankings

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Infinit-O | Fortune

Infinit-O Company Profile, Stock Price, News, Rankings | Fortune

JPMorgan has begun legal proceedings against customers who allegedly stole hundreds of thousands of dollars during a technical malfunction in the bank’s ATM systems.

JPMorgan is suing the customers who cashed in on bank’s “infinite money glitch” 

JPMorgan Chase is suing customers who allegedly fraudulently withdrew funds.

Finance

JPMorgan is suing the customers who cashed in on bank’s “infinite money glitch” 


JP Morgan is suing the customers who cashed in on the bank's infinite money glitch that went viral earlier this year. There wasn't actually a glitch. It's just check fraud. Customers would deposit counterfeit checks and then withdraw the cash before the check bounced. And now the bank has filed at least four separate federal lawsuits including one case where some of more than $290,000 was allegedly withdrawn by a chase customer. The total of all four cases comes to more than $661,000. The bank is hoping to get the stolen money back including interest and overdraft fees on the account plus legal fees and in some cases, punitive damages are also being sought.

Anomali is an AI-powered security operations platform based in Silicon Valley. CEO Ahmed Rubaie reveals why robust infrastructure is the cornerstone of cyberdefense.

Cybercriminals Are Playing 'an Infinite Game'

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Maybe a little bit of a preamble on sort of the, the bad guy world. It is continuously evolving and growing. It is a complex network. They're very well organized, they share information in fact, sometimes better than the good guys. And so irrespective of what trend is today was yesterday, will be tomorrow, I think we need to just understand that it's kind of an infinite game. They're going to continuously find a path and they will always look for the most vulnerable path. It doesn't have to be something as exciting as artificial intelligence. It's wherever the most vulnerable path is the the game against. I'm just gonna simplistically call it the bad guys, right? Whether that's nation state actors or individual hackers, et cetera. It's a game against the bad guys and it's not finite, it's infinite. We all read the same newspapers, right? You've seen the activity of ransomware that's brought healthcare systems down, that's brought pipelines down. And that's before we get into geopolitical activities, et cetera. I think the point is understanding one's data uh in turn what threat landscape is generated because of that data or is caused if you will and then you know, you can't cover everything but you do your darndest to make sure you're covering the vulnerable areas in the most efficient way and in the smartest way, what I mean by that is with intelligence, it's kind of like if you are going to go buy a house today, uh it's not enough for you to know that, you know, the basement is in good shape. You need to know that the structure is in good shape, plumbing, electricity, et cetera. It's no different when you assess visibility of uh your data, your threat landscape and what to do about it. I would say that, you know, with the advent of artificial intelligence or let me say it differently, large language models. Yeah, that's yet another area for bad guys to go play with. We have to be extra vigilant, including us as vendors. So the reason we take our co-pilot very seriously because we house it in the largest repository of intelligence. So we close circuit it and that way it doesn't add any more hallucination or so-called false positives to our customers. So everybody's got to do their piece uh to keep this again, this game against the bad guys.

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