WASHINGTON -- The U.S. Treasury Department has fined Capital One $80 million for careless network security practices that enabled one of the biggest bank security breaches on record.
It said in a consent order that Capital One failed to establish effective risk management when it migrated information technology operations to a cloud-based service in 2015.
That allowed the bank to be hacked in 2019.
A former Amazon software engineer has pleaded innocent in the case and is due to stand trial in February.
