JP Morgan to Nearly Double Cyber-Security Spend in 2015, 2016

Bank's Q2 announcement comes with news it plans to significantly increase money spent on cyber security.

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JP Morgan says it plans to double its cyber-security budget over the next two years.

The bank said it plans on enhancing its defense capabilities, including more robust testing, advanced analytics and improved technology coverage.

JP Morgan's 2014 cyber-security budget was approximately $250 million, according to The Wall Street Journal.

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