A new hack that began targeting Chase Business Accounts this week could cause a large number of affected customers to lose access to their accounts.
The hack targeted Chase’s Chase Sapphire Reserve account, which was a first-party, high-interest-rate Chase Business account.
It was also a Chase Business Savings account.
Chase is aware of the hack, which has impacted customers of Chase Business accounts, and is actively working with them to fix it.
“We’re working with our partners to address this issue as quickly as possible,” Chase spokesperson Jennifer Nussle told Polygon.
Chase has sent an advisory to its customers saying it will no longer be issuing Chase Business Cards to Chase Business customers who lost access to Chase’s account due to this hack.
Nusslle said that Chase is working with affected customers directly to help them regain access to the account.
“Chase will not be issuing cards to affected customers until we have a better understanding of the cause of the issue,” Nussli said.
The Chase Sapphire Preferred and Chase Sapphire Credit cards have already been removed from the cards that Chase uses for customers.
Chase also sent out a message to its employees on Friday advising them to follow the instructions provided on their Chase Business card accounts.
This advisory also instructs employees to notify Chase customers who lose access in the next 24 hours of the affected account, and to notify them if their Chase accounts are still impacted.
Customers affected by this hack are advised to use a new, secure banking account for Chase Business.
The full advisory can be read here.
This isn’t the first time that Chase has had issues with this kind of hack.
Last year, a hacker tried to hack into Chase’s bank account and used a phishing email to steal $1 million from Chase’s customers.
The phishing attack forced Chase to stop its business services, and the hacker also used stolen personal information.
Chase said the breach was discovered “on a routine internal investigation.”
Chase told Polygon that it’s working to make changes to the banking system in response to the hack.
Chase was unable to provide additional information on what the new banking system will look like, but it does offer some guidelines for customers who are affected by the hack: Customers should not attempt to use Chase Business cards until they have an updated account, have updated information on their account, are informed of their ability to access Chase business accounts, have a full backup of their data, and have the ability to reset their Chase account.
The bank has not yet confirmed if Chase is currently working on these changes.
Chase customers are encouraged to contact Chase’s Customer Service Center to get updates on the bank’s response to this problem.