Security News > 2020 > August > Capital One Fined $80 Million for 2019 Data Breach Affecting 106 Million Users

A United States regulator has fined the credit card provider Capital One Financial Corp with $80 million over last year's data breach that exposed the personal information of more than 100 million credit card applicants of Americans.

According to a press release published by the OCC on Thursday, Capital One failed to establish appropriate risk management before migrating its IT operations to a public cloud-based service, which included appropriate design and implementation of certain network security controls, adequate data loss prevention controls, and effective dispositioning of alerts.

These unsafe and poor security practices resulted in a massive data breach last year when a single hacker was able to steal credit card information of over 106 million Capital One customers.

The breach occurred after Thompson allegedly exploited a misconfigured firewall on Capital One's Amazon Web Services cloud server in March and unauthorizedly stole more than 700 folders of data stored on that server.

In addition to the civil money penalty of 80 million dollars, the OCC also ordered Capital One Finance to enhance its cybersecurity security defenses and submit a plan to the OCC within 90 days outlining how it intends to do so.

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