Dimon Sees JPMorgan Cyber-Security Costs Doubling

The transcript discusses Blackstone's plan to create a new public entity with DOT partners to reduce conflicts of interest. Fortress Investment is looking to raise $4.3 billion to invest in distressed credit globally. JP Morgan CEO Jamie Dimon plans to double the bank's cybersecurity budget over five years, emphasizing the need for government collaboration to combat cybercrime.

What is the primary reason for Blackstone spinning off a unit and combining it with DOT partners?

• To expand into new markets

• To reduce conflicts of interest

• To increase market share

• To improve public relations

How much is Fortress Investment aiming to raise for buying distressed credit?

• $3.5 billion

• $4.3 billion

• $5.0 billion

• $6.2 billion

What is JP Morgan's plan for its cybersecurity budget over the next five years?

• Reduce it by half

• Keep it the same

• Double it

• Triple it

How many households were affected by the hack attack targeting JP Morgan?

• 50 million

• 60 million

• 76 million

• 80 million

According to Jamie Dimon, what does the industry need to effectively fight cybercrime?

• More private sector investment

• Government assistance

• International cooperation

• Advanced technology