Capital One Fined $80 Million For Data Breach

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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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