More than 100 million customers affected by Capital One data breach
Capital One announced on Monday that a hacker was able to gain access to more than 100 million credit card applications, and stole thousands of Social Security and bank account numbers.
The FBI arrested a suspect, Paige A. Thompson, in the Seattle area on Monday, charging her with computer fraud and abuse. Court records show the data theft took took place between March 12 and July 17, and affected 100 million individuals in the United States and six million in Canada. "While I am grateful that the perpetrator has been caught, I am deeply sorry for what has happened," Capital One Chairman and CEO Richard D. Fairbank said. "I sincerely apologize for the understandable worry this incident must be causing those affected and I am committed to making it right."
Capital One said no credit card numbers were stolen in the breach, and the incident will likely cost the company between $100 million and $150 million. This is one of the largest data breaches to ever hit the financial world.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia is night editor for TheWeek.com. Her writing and reporting has appeared in Entertainment Weekly and EW.com, The New York Times, The Book of Jezebel, and other publications. A Southern California native, Catherine is a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
'His story should be here'
Today's Newspapers A roundup of the headlines from the US front pages
By The Week Staff Published
-
'Not cross buns': the row over recipe revamps
Talking Point New versions of the Easter favourite have sparked controversy but sales are soaring
By Adrienne Wyper, The Week UK Published
-
The England kit: a furore over the flag
Why everyone's talking about Nike's redesign of the St George's Cross on the collar of the English national team's shirt has caused controversy
By The Week UK Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published
-
Immigration helped the US economy outpace peers
speed read The U.S. economy grew at an annualized rate of 3.2% last quarter
By Peter Weber, The Week US Published
-
4-day workweek gets boost from UK study
Speed Read Following a six-month trial, the majority of participating British companies are still using the truncated schedule
By Peter Weber, The Week US Published
-
US sues to block Kroger-Albertsons merger
Speed Read The Federal Trade Commission sued to block the $24.6 billion merger between the grocery giants
By Peter Weber, The Week US Published