Author Topic: COF - Capital One Financial  (Read 17032 times)

HJ

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Re: COF - Capital One Financial
« Reply #40 on: July 30, 2019, 10:13:27 PM »
https://www.bankinfosecurity.com/equifaxs-data-breach-costs-hit-14-billion-a-12473

So Equifax had $125MM cyber insurance with $7.5MM deductible, with cost running something north of $1.4 billion. 

From how these 2 incidents are described, the Capital One case sounds a bit less severe, or at least was dealt with more urgency.  They were actually able to pin down the person doing it, so maybe the cost is more quantifiable from the outset.  But it is also a deeper pocket than Equifax, and all the relevant government agencies need to take their pound of flesh.   


Sharad

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Re: COF - Capital One Financial
« Reply #41 on: July 31, 2019, 01:09:50 PM »
COF breach resulted in 6m Canadian customers' data and 1m Social Insurance Numbers to come into risk and become exposed. COF only has 6m customers because of its Costco MasterCard in Canada. I would imagine as this plays out, there could be some risk to the renewals of this contract. Blowback will definitely hit Costco as much as it will Capital One. There's your $3b. COF had gained quite well from winning the contract in 2015.
"If we are not able to ask skeptical questions, to interrogate those who tell us that something is true, to be skeptical of those in authority, then we are up for grabs for the next charlatan - political or religious - who comes ambling along."
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