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write a 550 word write up about what happened in July 2019 More than 100 million Capital One credit card applications and accounts compromised -

write a 550 word write up about what happened in July 2019 More than 100 million Capital One credit card applications and accounts compromised

- what have caused this incident?
- how did this scandal affect the company?
- what were measures taken to solve this issue? image text in transcribed
In July 2019, Paige Thompson, 33, was accused of breaking into a Capital One server and gaining access to 140,000 Social Security numbers, 1 million Canadian Social Insurance numbers and 80,000 bank account numbers, plus an undisclosed number of people's names, addresses, credit scores, credit limits, balances and other information, according to the bank and the U.S. Department of Justice (DOJ). According to the CNN Business article, a criminal complaint said Thompson tried to share information with others online. She'd previously worked with Amazon Web Services, the cloud hosting company that Capital One was using. Capital One said the hack occurred in March, and the company had fixed the vulnerability. "It was obviously application data that was released," says Tom Shaw, CFE, financial services consultant and former vice president of Enterprise Financial Crimes Management at USAA. "So, once we heard about the Capital One breach, the major players in the space of providing products such as credit cards, deposit accounts and loans asked, "What do we need to mitigate that fraud that is going to emanate once that information gets out on the dark web and starts to get sold?' That was our No. 1 priority in the industry. When a sizable breach happens it can expose financial institutions to an uptick in application fraud, which results in identity theft for many consumers that were part of the breach

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