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Capital One fined $80 million in data breach

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Posted at 12:49 PM, Aug 07, 2020
and last updated 2020-08-07 12:49:16-04

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.