Chase Receives Patent for Fraud Protection Breakthrough

Innovative “First Watch Intelligence” Protects Chase Customers from Identity Theft, Credit Card Fraud

Wilmington, Del. - Building on its commitment to protect consumers, Chase Card Services, the credit card division of JP Morgan Chase & Co. [NYSE: JPM], announced that it recently received a patent from the United States Patent Office for its breakthrough fraud prevention technology, First Watch Intelligence.

Chase Card Services received the patent US 7,480,631 on Jan. 20, 2009. Fraud cases have increased dramatically in recent years, and Chase employees have been on the front line monitoring more than 40 factors that indicate potential fraud. First Watch Intelligence creates an automated system for evaluating those fraud factors, which in turn enables Chase analysts to detect fraud more efficiently and effectively.

“Fraud protection is a top priority for Chase and our card members. We continually strive to identify new ways to enhance our efforts in this critical area,” said Tim Webb, senior manager, fraud operations, Chase Card Services, and co-inventor of First Watch Intelligence. “In developing this technology, we recognized our fraud analysts needed a tool that could quickly analyze fraud indicators more effectively and deliver even better customer protection. First Watch Intelligence successfully provided us with both.”

The Identity Theft Resource Center, a non-profit organization that tracks identity fraud, predicts credit card fraud will likely increase in 2009 given the current economy, demonstrating a real need for increased consumer protection. Chase’s new innovation puts the company at the forefront of fraud protection technology, adding another layer of security for Chase cardholders.

“Chase has been long recognized for its innovative solutions and has one of the larger patent portfolios in the financial services industry,” said Bill Mann, Ph.D. and executive director, patent and business development, Chase Card Services. “As the number of fraud cases increases in this time of economic uncertainty, the timing is ripe for this innovative patent, which is already being used to protect our customers.”

“Because the application is user-friendly and highly successful, employee satisfaction is at an all-time high,” said Mike Cunningham, senior director, fraud operations, Chase Card Services. “Securing a patent for this technology demonstrates our continued commitment to protecting customers from fraud, further strengthening the foundation of our business for our employees and shareholders.”

About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries, and the company has issued about 168 million credit cards in the United States and Canada. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers and businesses in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and WaMu brands. Information about the firm is available at www.jpmorganchase.com.