The Washington Post reports Capital One agreed to pay an $80 million fine over its 2019 data breach that affected more than 100 million credit card applications. The U.S. Office of the Comptroller of the Currency said the fine was "based on the bank's failure to establish effective risk assessment processes" prior to migrating part of its database to a cloud storage system and for not correcting "the deficiencies in a timely manner," the report states. "In the year since the incident, we have invested significant additional resources into further strengthening our cyber defenses, and have made substantial progress in addressing the requirements of these orders," Capital One said in a statement.
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