Capital One data breach: A journey from 2019 to 2028, affected people got $190 million compensation: In the year 2019, Capital One, a leading US financial institution, had the biggest data breach in its history. This cyber attack exposed sensitive information of about 98 million people. This included important information like names, addresses, social security numbers, bank account details and credit scores. After this incident, millions of people came under serious risk of identity theft and fraud.
After this serious data breach, a $190 million class-action settlement was passed in 2022 to compensate the affected people. In this article, we will understand in detail how this incident happened, who got compensation, how much amount was given, and what services can be availed till 2028.
How did the Capital One data breach happen?
This data theft was done by a former Amazon Web Services (AWS) employee. That hacker took advantage of a security vulnerability in Capital One’s cloud storage system and downloaded highly sensitive data.
What information was leaked?
The data stolen in this breach were:
- Full names and addresses – personal information of customers and credit card applicants
- Social Security numbers – numbers of about 140,000 people leaked
- Bank account details – information of about 80,000 accounts exposed
- Credit scores and limits – complete financial history information leaked
Payment history and transaction details
Although passwords and credit card CVV numbers were not stolen, the leak of such sensitive information still poses a serious risk of identity theft and financial fraud.
- Capital One had to suffer heavy penalties
After this cyber attack, Capital One faced several legal and financial actions: - $190 million class-action settlement for the affected
- $80 million fine by US regulatory agencies
- The company had to make major changes to its security system
Who was eligible for the settlement?
There were some prerequisites to avail this class-action settlement:
- Having a Capital One account/credit card between September 1, 2015 and January 12, 2022
- Being a US resident at the time of data breach
- Submitting documents of the loss caused due to the data breach
- Filling a valid claim form by September 30, 2022
How much and what compensation was received?
1. Financial Compensation:
Payments to claimants fall into the following categories:
- Out-of-pocket losses – up to $25,000 for expenses incurred due to fraud or security upgrades
- Time pay – payment for time spent resolving identity theft issues, at $25 per hour
- General compensation – those with lesser losses receive amounts ranging from $50 to $250
2. Identity Protection Services
These include:
- Credit monitoring – monitoring credit activities
- Fraud alerts and insurance – protection against fraudulent incidents
- Identity restoration assistance – expert assistance in the event of identity theft
These services will be available free of charge until February 13, 2028.
| Event | Date |
|---|---|
| Data Breach Occurred | 2019 |
| Settlement Approved | September 13, 2022 |
| Claim Submission Deadline | September 30, 2022 |
| First Payment Issued | September 28, 2023 |
| Second Payment Issued | September 4, 2024 |
| Identity Protection Services End | February 13, 2028 |
What benefits can still be availed?
Although the deadline for financial compensation has expired, if you are eligible and have not yet availed credit monitoring or identity protection services, you can still avail of it:
- Visit capitalonesettlement.com
- Enter Claim ID or Registered Email
- Enroll in Identity Theft Protection
- Monitor your activities regularly
Key Lessons:
- This incident highlights how important cybersecurity is in today’s times.
- Banking institutions should adopt advanced security systems to protect their customers’ information.
- There may be more such attacks in the future, so it is important for customers to be alert and vigilant.
Conclusion:
The Capital One data breach was a big lesson — not just for companies, but for ordinary consumers as well. The incident made it clear that even a small lapse in cybersecurity can put the personal and financial information of millions of people at risk.
If you were affected by this breach, and have not yet taken advantage of identity protection services, do not delay. You can make your financial future secure by using the services available by 2028.
FAQs
Q 1. Is Capital One’s data breach still impacting customers?
A. Capital One’s 2019 data breach is still impacting customers, particularly in cases related to identity theft and fraud.
Q 2. Can I still take advantage of the class action settlement?
A. Although cash compensation is no longer being paid, identity protection services and credit monitoring are available until February 13, 2028.
Q 3. What services am I still eligible for?
A. You may be eligible for the following services:
Free credit monitoring
Identity theft insurance
Identity restoration assistance
Q 4. I didn’t fill out a claim form, can I still get something?
A. If you didn’t fill out a claim form by September 30, 2022, you are not eligible for cash compensation. But if you are an affected user, you may still be eligible for identity protection services.
Q 5. How to use Identity Protection Services?
A. You can follow the steps given below:
Visit capitalonesettlement.com
Enter your Claim ID or registered email
Enroll for Credit Monitoring and Protection Services
Q 6. Till when are these services available?
A. These identity protection and restoration services will be available for free till February 13, 2028.