JPMorgan deletes 47 million records, cripples SEC investigations
JPMorgan Chase Bank accidentally deleted 47 million electronic records containing messages related to ongoing investigations by the Securities and Exchange Commission (SEC), latest news on June 22 shows. JPMorgan deleted millions of records, paying a $4 million fine The bank was found to have mistakenly deleted millions of electronic records, including emails and instant messages; an error that has hindered the agency’s ongoing investigations. As a result, the bank has agreed to pay a $4 million fine. You might also like: JPMorgan partners with Indian banks to enable dollar trading via blockchain These records, which involved emails and instant messages, were meant to be protected by a third-party vendor responsible for archiving the bank records. However, it was later discovered that the emails sent to the “Chase” communications domain were not protected as advertised, resulting in their complete erasure. This loss of critical information affe...