Capital One fined $80 million in data breach

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FILE - This July 22, 2019, file photo, shows Capital One mailing in North Andover, Mass. 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. (AP Photo/Elise Amendola, File)

capital-one-data-breach

WASHINGTON (AP) — 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.