FBI Investigating Cyberattack on JP Morgan and 4 Other Banks

The Federal Bureau of Investigation is reportedly investigating a series of cyberattacks on JP Morgan Chase and four other American banks, officials announced Thursday.

"We are working with the United States Secret Service to determine the scope of recently reported cyber attacks against several American financial institutions," FBI Supervisory Special Agent Joshua Campbell said in a statement, according to the Washington Post.

The attackers reportedly stole personal data from the bank's systems that could empty their coffers. They also stole employee data. The scale of the robbery is reportedly serious and officials are working towards identifying the attackers.

Security experts describe the attack as a sophisticated security breach where the hackers penetrated the security layers to steal gigabytes of data from the banks. The Other four banks haven't been identified yet.

"Companies of our size unfortunately experience cyberattacks nearly every day," Patricia Wexler, a JP Morgan spokeswoman told The New York Times.

"We have multiple layers of defense to counteract any threats and constantly monitor fraud levels," Wexler added.

Bloomberg broke news of the cyber attacks suggesting that this could be the work of Russian hackers in retaliation of the U.S. sanctions against the country. But FBI officials said they haven't reached that conclusion yet.

News of the cyber attack comes almost a year after JP Morgan CEO Jamie Dimon said that the firm had bolstered its security defense in the company's 2013 annual report.

"We're making good progress on these and other efforts, but cyberattacks are growing every day in strength and velocity across the globe," Dimon said, according to USA Today.

"It is going to be a continual and likely never-ending battle to stay ahead of it - and, unfortunately, not every battle will be won. Rest assured that we will stay vigilant and do what we need to do to enhance our defenses and protect our company."

In the past two years, several banks have been exposed to cyber security threats. Financial institutes are not always hacked for the money but for personal data and individual information too.

It is too early to conclude anything on the current case until further official word is available.