Capitol One's data breach will likely affect the banking industry at large – causing more banks to be cautious when adopting technology:
Paige A. Thompson was arrested by federal agents in Seattle in connection with the breach and is accused of breaking through a Capital One firewall to access customer data the bank stored on Amazon.com Inc.'s cloud service, per a federal criminal complaint and people familiar with the matterCapital One said it's unlikely the compromised information has been disseminated or used for fraudulent activity and expects the incident to generate $100 million to $150 million in incremental costs.
But despite the volume of affected customers, the highly sensitive data leaked was more constrained: Only around 140,000 US Social Security numbers , 80,000 linked bank account numbers for secured card customers, and 1 million Canadian Social Insurance numbers were compromised. Consumers whose more sensitive information was leaked will be highly vulnerable to fraud, especially if they don't take action. Fortunately for Capital One and its customers, over 99% of SSNs weren't compromised. But for consumers whose SSNs were leaked, the risk for serious fraud — such as new account fraud or account takeover — will be higher due to the unchangeable nature of SSNs.
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