A Bank of America sign is pictured in Pasadena, California, U.S., September 6, 2017. REUTERS/Mario Anzuoni

(Reuters) - Bank of America Corp’s chief operations and technology officer Cathy Bessant said on CNBC that the bank would spend $600 million on information security this year.

She also added that BofA would spend the same amount in 2018, and that it has 1,200 employees “dedicated to that effort”.