Capital One Fined $80 Million For Data Breach

Last year Capital One had a data breach where over 100 million individuals were affected. Capital One claimed that the information was not disseminated but the hacker posted the breach on their public github and at least one person accessed this information. The Office of Comptroller of the Currency (OCC) has today assessed an $80 million civil money penalty against Capital One. OCC made the following statement regarding the fine:

The OCC took these actions based on the bank’s failure to establish effective risk assessment processes prior to migrating significant information technology operations to the public cloud environment and the bank’s failure to correct the deficiencies in a timely manner

 

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I Duddits
I Duddits

Q: What’s in THEIR wallet?
A: $80 million less

YoniPDX

Funny how the Government is the only one that seems to really capitalize and come out ahead from the fines -and they weren’t even damaged or even needing to be made whole from the breech.

Game of Federal Reverse
Game of Federal Reverse

No, that is just a down payment and signal to the lawyers to join in the fun. The big bucks are made by the lawyers as many of these lawyers would have already worked in the government or behind the government in some way, before joining big law firms as directors and what not and that is when they roll in the big bucks.

P
P

i remember this. I had to keep changing my password every week for five weeks.

SB
SB

Passwords were not stolen. You must just like changing passwords.

Samosa
Samosa

80 cents per SSN that they couldn’t protect. Don’t know whether to laugh or cry.

Sam
Sam

Should they go bankrupt when you also tell everybody from your bank to your dentist your SSN?

Game of Federal Reverse
Game of Federal Reverse

What about you? You don’t tell the bank your SSN?

AL_PF
AL_PF

No, I live in a cabin in the woods with a solar panel, and all of my money is in bitcoin.

JMR0303
JMR0303

Maybe we should do what Canada does and make everyone stop asking for SSN for anything except tax-related matters (so when opening interest-bearing bank accounts, investments, etc).

Burton
Burton

Probably about the same amount I’ll get from the class action in a couple years.

Cj
Cj

should have been 80 billion. Die cap one….die!!