Capital One Financial Corp will pay an $80 million penalty to a U.S. bank regulator after the bank suffered a massive data breach one year ago.
FILE PHOTO: The logo and ticker for Capital One are displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., May 21, 2018. REUTERS/Brendan McDermid
The fine, announced Thursday by the Office of the Comptroller of the Currency, punishes the bank for failing to adequately identify and manage risk as it moved significant portions of its technological operations to the cloud. In July 2019, the bank disclosed that personal information including names and addresses of about 100 million individuals in the United States and 6 million people in Canada were obtained by a hacker. The suspected hacker was a former employee of Amazon Web Services, a cloud provider where the bank had moved some of its data.
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