Statement of The Problem

This document is a case study submitted to Mr. Edwin Bernas about JPMorgan Chase's countermeasures against identity theft and fraud. It introduces the complex challenges banks like JPMorgan Chase face from digital threats and how combating these issues is crucial for maintaining client trust. The case study will explore JPMorgan Chase's internal and external environments, specifically examine the problems of escalating identity theft and fraud incidents affecting the bank, and conduct a root cause analysis to understand vulnerabilities and inform strategic recommendations.

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Statement of The Problem

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chandriacruz06

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CITY UNIVERSITY OF PASAY

Pasadeña St. F.B Harrison Pasay City

College Of Business Administration

“Securing Finances on JPMorgan Chase’s

Countermeasures Against Identity Theft
and Fraudulent Activities:
A Case Study of JPMorgan Chase Bank”

Submitted to:

Mr. Edwin Bernas

Submitted By:

Diane S. Constantino

3-4 BSBA Financial Management

CITY UNIVERSITY OF PASAY
Pasadeña St. F.B Harrison Pasay City
College Of Business Administration

Statement Of The Problem

In the complex realm of modern banking, where financial transactions

seamlessly traverse digital landscapes, the integrity of institutions like
JPMorgan Chase Bank stands as a linchpin in the global economy.
However, this digital frontier is not without its perils. The case under
investigation delves into the profound challenges faced by JPMorgan
Chase, encapsulating the relentless threats of identity theft and
fraudulent transactions that have emerged as pervasive adversaries.

As we peel back the layers of this intricate scenario, we find ourselves

at the intersection of technology, security, and the unwavering trust
bestowed upon financial institutions by their clients. The escalating
incidents of identity theft and fraudulent transactions pose not only
immediate financial risks but also cast a looming shadow over the very
foundation of client trust, the cornerstone upon which JPMorgan Chase
Bank and institutions of its stature thrive.

This opening statement sets the stage for an in-depth exploration of the
identified problem, elucidating its nuances and unraveling the broader
implications for JPMorgan Chase, its stakeholders, and the global
financial ecosystem. Let us embark on a journey to understand the root
causes, significance, and potential solutions to the cybersecurity
challenges that echo within the hallowed halls of this esteemed banking
institution.

1. Case Identification and Background:

The case under investigation, centered around JPMorgan Chase,
unfolds against the backdrop of the highly dynamic banking industry.
As a global financial powerhouse, JPMorgan Chase navigates the
complexities of the digital era, where the relentless threats of identity
theft and fraudulent activities persistently challenge the institution's
commitment to securing financial assets. This case scrutinizes the
organization's strategies and countermeasures to mitigate the risks
associated with cyber threats within the specified time frame.
CITY UNIVERSITY OF PASAY
Pasadeña St. F.B Harrison Pasay City
College Of Business Administration

2. Context and Surrounding Factors:

To comprehend the depth of the problem, an exploration of JPMorgan

Chase's internal and external environment is essential. The stakeholders
involved encompass not only the institution and its clients but also
regulatory bodies, industry peers, and the broader financial community.
The historical evolution of the banking giant, coupled with unique
challenges posed by the contemporary digital landscape, sets the stage
for understanding the multifaceted circumstances surrounding the issue
of identity theft and fraudulent activities.

3. Identification of Specific Problem:

Within the expansive scope of this case study, the specific problem
manifests as the escalating incidents of identity theft and fraudulent
activities affecting JPMorgan Chase. These challenges span operational,
technological, and strategic dimensions, requiring a comprehensive
analysis. The intricate nature of cyber threats and potential
vulnerabilities in the institution's security protocols form the crux of the
identified problems.

4. Relevance and Significance of the Problem:

The significance of addressing identity theft and fraudulent activities is

paramount for JPMorgan Chase. Beyond immediate financial
implications, the potential impact extends to the erosion of client trust,
regulatory compliance, and reputational standing. The importance of
resolving these issues is underscored by the broader context, as the
resilience of one of the industry leaders against cyber threats contributes
to the overall stability of the global financial ecosystem.
CITY UNIVERSITY OF PASAY
Pasadeña St. F.B Harrison Pasay City
College Of Business Administration

5. Root Cause Analysis:

Conducting a root cause analysis unveils the intricate factors

contributing to identity theft and fraudulent activities. This involves a
deep dive into interconnected issues and dependencies within
JPMorgan Chase's cybersecurity framework. Understanding the
underlying causes enables a strategic approach to address
vulnerabilities effectively, laying the foundation for a resilient and
adaptive countermeasure strategy.

This comprehensive statement of the problem sets the stage for an in-
depth exploration of JPMorgan Chase's response to identity theft and
fraudulent activities, aiming to provide nuanced insights and strategic
recommendations for the financial industry facing similar challenges.