Page 86 - Cyber Defense eMagazine February 2024

Hyperbole, Misinformation, and Cyber-

Monsters Under the Bed

By Ken Westin, Field CISO, Panther Labs

This January at the World Economic Forum, there was a panel titled “Are Banks Ready for the Future?”
with an esteemed panel of banking executives discussing the future of banking. When the topic of
cybersecurity came up, Mary Callahan Erdoes, the Chief Executive Officer of J.P. Morgan Asset & Wealth
Management, stated, “There are people trying to hack into J.P. Morgan Chase 45 billion times a day.
That number is what it is.” Unfortunately, this soundbite is what the media grabbed onto and pushed out
a hyperbolic narrative regarding the threats the bank faces. I don’t blame Erdoes, as this number was
probably provided to her in a briefing by her CISO or security team, and many of the publications that put
the number in the headline did so to get clicks.

Cyber Defense eMagazine – February 2024 Edition 86
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