11.8 C
New York
Thursday, November 26, 2020
Home Stories Capital One is fined $80 million for huge data breach

Capital One is fined $80 million for huge data breach

The U.S. Treasury Department has fined Capital One $80 million for careless network security practices that enabled a hack that accessed the personal information of 106 million of the bank’s credit card holders.

The Comptroller of the Currency said in a consent order Thursday that Capital One failed in 2015 to establish effective risk management when it migrated information technology operations to a cloud-based service.

It said the bank’s own internal audit failed to identify “numerous weaknesses” in its management of the cloud environment and “engaged in unsafe or unsound practices that were part of a pattern of misconduct.”

The consent order said Capital One has committed to fixing the problem. In an emailed statement, the company said it has in the year since the breach “invested significant additional resources into further strengthening our cyber defenses, and have made substantial progress in addressing the requirements of these orders.”

Among the largest of its kind on record, the 2019 breach compromised about 140,000 Social Security numbers and 80,000 bank account numbers. The accused hacker, former Amazon software engineer Paige Thompson, has pleaded not guilty to charges related to the breach.

Thompson, a transgender woman, is set to stand trial in February. Her lawyers have sought to have her released to a halfway house where she would have better access to mental health care, but the judge in the case denied the request saying she was a flight risk and a danger to others.

No evidence has emerged that Thompson sought to benefit financially from the hack.

Source: Fortune

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

World of Warcraft: How This Game Is a Classic?

World of Warcraft is a classic experience. This game comes with a lot of twists and turns, helps you to put the action on...

EIC attains massive registration for its second edition

The Edgistify Innovation Challenge edition II has gained enormous response with around 6555 individual registrations from 600+ engineering & medical colleges as well as...

A mysterious Metal Monolith found in the Utah Desert re-establishes the many accounts of mysterious sightings and phenomenons throughout history

The news of a mysterious metal Monolith or an 'obelisk' found buried in Utah's sands in a remote western desert in the United States...

Nivar makes landfall, weakens into severe cyclonic storm

Very severe cyclonic storm Nivar made landfall near Puducherry in the early hours of Thursday, India Meteorological Department said while heavy rains pounded Tamil...

Recent Comments

%d bloggers like this: