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Regulation

Banking Regulator Fines Capital One $80 Million Over 2019 Hack

“A top banking regulator has fined Capital One Financial Corp. $80 million over a 2019 hack that compromised the personal information of about 106 million card customers and applicants. The Office of the Comptroller of the Currency said the bank failed “to establish effective risk assessment processes“ before transferring information-technology operations to the public cloud […]
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Risk

Tech Unicorn Dave Admits to Security Breach Impacting 7.5 Million Users

“Digital banking app and tech unicorn Dave.com confirmed today a security breach after a hacker published the details of 7,516,625 users on a public forum. In an email to ZDNet today, Dave said the security breach originated on the network of a former business partner, Waydev, an analytics platform used by engineering teams.”
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Risk

Iran Banks Burned, Then Customer Accounts Were Exposed Online

“Iran has been engaged in a cycle of hack and counterhack in a cyberwar against the United States and Israel. Both sides have targeted each other’s financial and sensitive government institutions through cyberattacks for years. The banks affected — Mellat, Tejarat and Sarmayeh — had all been sanctioned more than a year ago by the […]
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Risk

Equifax Used ‘Admin’ As Username and Password for Sensitive Data: Lawsuit

“Equifax ( EFX ) used the word “admin” as both password and username for a portal that contained sensitive information, according to a class action lawsuit filed in federal court in the Northern District of Georgia. The ongoing lawsuit, filed after the breach, went viral on Twitter Friday after Buzzfeed reporter Jane Lytvynenko came across […]
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