With cybersecurity increasingly in the spotlight, cybersecurity experts are looking to a new financial institution to help bridge the gap between the public and private sector.
First Security Bank, the security banking company founded by former JPMorgan Chase CEO Jamie Dimon and its CEO, Robert J. Johnson, has come under fire for its questionable ethics and questionable practices.
In a recent video, Johnson says, “I believe in the security of the Internet and the future of our economy.”
Johnson went on to claim that “We’re going to be doing business with the U., the United Nations, the Chinese government, governments all over the world.”
As part of a report by The Intercept, Johnson and Dimon made a series of dubious claims, including that First Security Bank’s technology can detect, identify and track all of the emails and other data on your computer.
According to The Intercept’s report, Johnson is a senior fellow at the Foundation for Defense of Democracies and has also made a fortune investing in security firms.
Johnson has also received more than $5 million in campaign contributions from the U of T’s Patrick Brown Foundation, and his firm has worked with a number of major defense contractors.
As part the report, The Intercept reviewed documents and internal emails from First Security, which shows that Johnson and Johnson have a long history of pushing for greater security of their companies.
First Defense, which was launched in 2016, has been accused of being a front for the United States military, and was recently investigated by the House Oversight and Government Reform Committee.
The company is also the subject of an ongoing investigation by the Department of Homeland Security’s Office of Inspector General, which found “systemic deficiencies” in First Defense’s cybersecurity.
As a result of the DHS investigation, First Defense agreed to pay $500,000 in compensation to a former employee who worked at its Toronto headquarters, and has been allowed to keep his security clearance.
The report also says that Johnson’s security firm was involved in a “highly suspicious” $1.3 million sale of two “highly sensitive” U.K. government technology contracts.
In the first video, Dimon says, The United States government is “going to be in the middle of the world in cyberspace.”
He goes on to say that he and Johnson want to “create a global bank that’s not controlled by the United Kingdom, by the French, by any of these other big banks.”
The U.N. is currently working on a plan to set up a global cybersecurity bank.
Johnson’s firm also has ties to former U.C. Berkeley professor Stephen C. Coughlin, who was also involved in an anti-Trump campaign fund.
Johnson was one of the backers of the Stop the Steal PAC, which raised nearly $10 million from Coughlynns and other well-known political figures to oppose Trump during the 2016 presidential campaign.
Johnson has also previously defended his company’s stance on cryptocurrencies and blockchain technology, saying in 2016 that he is “not an advocate of any cryptocurrency, but I am an advocate for blockchain.”