JP Morgan Loses Clients’ Data

May 5, 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 cannot 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 and $25m, the spokesman said. The tape also included data belonging to JP Morgan employees. Some 47,000 accounts were affected.