Howestreet.com - the source for market opinions

ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION

July 29, 2019 | Capital One Hacked, 100 Million Accounts Affected, Woman Arrested

Mike 'Mish' Shedlock

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
A former employee of Amazon Web Services was arrested by federal agents in Seattle for hacking Capital One.

The Wall Street Journal reports Capital One Reports Data Breach Affecting 100 Million Customers, Applicants

Capital One Financial Corp. , the fifth-largest U.S. credit-card issuer, said Monday that a hacker accessed the personal information of approximately 106 million card customers and applicants, one of the largest ever data breaches of a big bank. The announcement came the same day the alleged hacker, Paige A. Thompson, was arrested by federal agents in Seattle.

The bulk of the exposed data involves information submitted by customers and small businesses in their applications for Capital One credit cards from 2005 through early 2019, the bank said. The information included addresses, dates of birth and self-reported income. The breach compromised approximately 140,000 Social Security numbers and 80,000 bank account numbers, as well as some customers’ credit scores and transaction data, according to the bank.

Investigators accuse Ms. Thompson of breaking into the servers that Capital One rented from the cloud-computing company to steal customer data from the bank. Ms. Thompson, who is charged with one count of computer fraud and abuse, allegedly accessed the bank’s data through a misconfigured firewall.

Credit card information and customer passwords are not at risk according to Capital One.

What’s in Your Wallet?

Mike “Mish” Shedlock

STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the HoweStreet.com Weekly Recap.

July 29th, 2019

Posted In: Mish Talk

Post a Comment:

Your email address will not be published. Required fields are marked *

All Comments are moderated before appearing on the site

*
*

This site uses Akismet to reduce spam. Learn how your comment data is processed.