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Capital One Fined $80 Million in 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.

Capital One failed in 2105 to establish effective risk management when it migrated information technology operations to a cloud-based service. The bank’s own internal audit failed to identify “numerous weaknesses” in its management the cloud environment and “engaged in unsafe or unsound practices that were part of a pattern of misconduct.”

Source: Capital One Fined $80 Million in Data Breach | SecurityWeek.Com

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