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Thursday, March 23, 2023

Capital One Fine Is Latest Wake-up Call for Banks Using the Cloud

It’s been more than a year since Capital One Financial said it had suffered a data breach that exposed the personal information of 106 million customers, but the lessons from the episode are as timely as ever.

The $80 million penalty assessed by the Office of the Comptroller of the Currency on Thursday against the McLean, Va., company for its security lapse highlights how serious a regulatory risk data-integrity issues are — especially those involving cloud computing.

The hack was allegedly carried out by Paige Thompson, a former software engineer at Amazon Web Services, who broke into Capital One’s servers in Amazon’s cloud through a misconfigured web application firewall. Thompson was arrested and awaits trial on charges of hacking Capital One and 30 other organizations.

Read more at American Banker

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The Government Technology & Services Coalition's Homeland Security Today (HSToday) is the premier news and information resource for the homeland security community, dedicated to elevating the discussions and insights that can support a safe and secure nation. A non-profit magazine and media platform, HSToday provides readers with the whole story, placing facts and comments in context to inform debate and drive realistic solutions to some of the nation’s most vexing security challenges.

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