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Finance – Consultlocus

Category: Finance

Bank fined $80m after being hacked last year

Capital One must pay a trivial $80m after being hacked last year. The hacker stole personal information on 106 million credit-card applicants in America and Canada. The fine is due to the bank’s failure to establish effective risk assessment processes and the bank’s failure to correct the deficiencies in a timely manner.

Please see more at:

https://www.theregister.com/2020/08/07/capital_one_fine/