JP Morgan client data loss

May 1, 2007

The Wall Street Journal

JP Morgan Chase has alerted thousands of its Chicago-area millionaire clients, as well as some of its own employees, that it ca not locate a computer tape containing their account information and Social Security numbers.

The tape, which was in a locked container, was being transported from a bank location to an off-site facility last month when it went astray, a JP Morgan spokesman said. It is not clear if the tape arrived at its destination or was lost along the way.

The tape contained data from JP Morgan's private-client services business, which provides financial services to clients who have a net worth of between $1m (.733,135) and $25m, the spokesman said. The tape also included data belonging to JP Morgan employees. Some 47,000 accounts were affected.

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