Home arrow Identity Theft arrow In The News arrow What You Need to Know About Capital One's Massive Data Breach
User Login





Lost Password?
No account yet? Register
Guard My Credit Menu
Home
- - - THE ISSUES - - -
Videos
Fraud and Scams
Credit Issues
Identity Theft
Privacy Issues
Our Children
Politics & Politicians
- - ACTION CENTER - -
Guard My Credit Links
Helpful Pamphlets
- - - - - - - - - - - - - - -
About ACCESS
Contact Us
About Our Site
Join the Fight
ACCESS is a non-profit, tax exempt consumer advocacy group.

Donations are tax deductable.

Guard My Credit Hits
9646218 Visitors
What You Need to Know About Capital One's Massive Data Breach PDF Print E-mail

July 31, 2019 - Over the past couple of days you may have heard that Capital One has announced a data breach, and it was a big one. The breach included data on 106 million of the company's and applicants. Here is what we know so far.

Image Image

The breached data wasn't housed on Capital One's own computers. It was stored in the cloud - which means that the servers and computer network were outsourced to another company. In this case, that company happened to be Amazon Web Services. As you might expect from the name, they are part of Amazon.

According to the initial announcement, the cause of the breach was an incorrectly configured firewall. That configuration was apparently handled by Capital One. But that doesn't tell the entire story. The FBI has already made an arrest in the breach. A software engineer by name of Paige A. Thompson, who just happens to be a former employee of Amazon Web Services. The companies haven't started finger-pointing yet, but our bet is that they will in very short order.

The amount of damage that can be done with the stolen data varies from person to person. Most of the impacted Capital One Customers had their names and contact information included, but that sounds like about it. For any unlucky 140,000 people, the breach included their social security numbers. And 80,000 people had their bank account numbers included in the breach. Capital One has said that they are notifying these victims.

The breach brings up a number of disturbing questions. For instance, why would any company store unencrypted data in the cloud? And more importantly, what are cloud computing companies like Amazon Web Services doing to make sure that their employees don't pose a threat to data owned by the company's customers?

At this point it isn't known if Thompson used knowledge that she gained while working with Amazon to pull off this breach, but if she didn't that would be awfully coincidental.

Capital One has said that their firewall configuration issue has been corrected. The company expects the breach to cost them in excess of $100 million.

byJim Malmberg

Note: When posting a comment, please sign-in first if you want a response. If you are not registered, click here. Registration is easy and free.

 

Follow ACCESS
Comments
Search
Only registered users can write comments!

3.25 Copyright (C) 2007 Alain Georgette / Copyright (C) 2006 Frantisek Hliva. All rights reserved."

 
Guard My Credit Polls
Poll #166 - Have you personnally been a victim of Identity Theft
 
#1 - Why did you visit our site today?
 
.•*´¯☼ ♥ ♥ Your Support of These Links Is GREATLY Appreciated ♥ ♥ ☼¯´*•.
Advertisement
 
Go to top of page
Home | Contact Us |About Us | Privacy Policy
eXTReMe Tracker
11/30/2020 08:12:18