Capital One fined $80 million in data breach

The U.S. Treasury Department has fined Capital One $80 million for careless network security practices that enabled one of the biggest bank security breaches on record

WASHINGTON -- The U.S. Treasury Department has fined Capital One $80 million for careless network security practices that enabled a hack that accessed the personal information of 106 million of the bank’s credit card holders.

The Comptroller of the Currency said in a consent order Thursday that Capital One failed in 2105 to establish effective risk management when it migrated information technology operations to a cloud-based service.

The consent order said Capital One has committed to fixing the problem. In an emailed statement, the company said it has in the year since the breach "invested significant additional resources into further strengthening our cyber defenses, and have made substantial progress in addressing the requirements of these orders.”

No evidence has emerged that Thompson sought to benefit financially from the hack.