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Dimon Sees Cyber-Security Spending Doubling After Hack

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the biggest U.S. bank will probably double its $250 million annual computer-security budget within the next five years.

Dimon, whose company recently disclosed that an attack by hackers exposed contact information of 76 million households and 7 million small businesses, made the remarks today at an event sponsored by the Institute of International Finance in Washington.