JPMorgan Chase CEO Jamie Dimon offered a grave warning on Friday about future cyberattacks.
Making his first public statement about the enormous data breach that roiled the bank this summer, Dimon said the company would spend $250 million a year to increase security and prevent future breaches, The New York Times reported.
“This is going to be a big deal and there will be a lot of battles,” he said, according to a JPMorgan spokeswoman. “We need a lot of help.”
The comments, which were also Dimon’s first public remarks since he disclosed last summer that he had throat cancer, were made at a Washington conference organized by the banking lobby Institute of International Finance.
The cyberattack against JPMorgan affected the data of 76 million households and 7 million businesses, according to a regulatory filing.