Dimon noted that JPM spends nearly $600m per annum on cybersecurity and employs 3k dedicated to the efforts. He also noted that issues around privacy are "real" and that the bank is constantly working to protect consumer data.
“It is imperative that the U.S. government thoughtfully design policies to protect its consumers and that these policies be national versus state-specific,” he said. “Different state laws around privacy rules would create a virtually impossible legal, compliance and regulatory-monitoring situation.” That said, Dimon added that it’s critical to protect free speech. “But maybe the most crucial privacy issue of all relates to protecting our democracy,” he said. “Our First Amendment rights do not extend to foreign governments, entities or individuals. The openness of the internet means that trolls, foreign governments and others are aggressively using social media and other platforms to confuse and distort information. They should not be allowed to secretly or dishonestly advertise or even promote ideas on media and social networks."