Capital One Data Breach Press Conference | Attorney John Yanchunis | Summary and Q&A

TL;DR

A class action lawsuit has been filed against Capital One after a significant data breach affected 100 million individuals in the US and 6 million in Canada.

Key Insights

• 💨 Class action lawsuits are a common way to seek accountability and relief for affected individuals in data breach cases.
• 🥹 Maintaining a secure environment for sensitive consumer information is crucial for companies, especially those holding large amounts of data.
• 💁 The stolen information may be used for malicious purposes, and the Dark Web is a marketplace where cyber-criminals trade such data.
• 💁 Information has become a valuable currency in the 21st century, and companies like Facebook and Google rely on user data for their business models.
• 🤝 Affected individuals may suffer various damages, including financial losses, compensable injury for time spent dealing with the breach, and misuse of their information.
• 🔔 Notification of the breach and potential impact will be sent to affected consumers by Capital One, as required by data breach statutes in each state.
• 🌸 Class action lawsuits often result in settlements that compensate affected individuals for their losses, including out-of-pocket expenses and damages.

Transcript

• Good morning and thank you all for showing up here this morning. Yesterday, we filed the first class action following the announcement of a significant data breach, affecting one of the largest credit banks in the country, Capital One, that affected 100 million United States citizens, and 6 million Canadians. We filed that lawsuit to hold Capital... Read More

Questions & Answers

Q: What kind of lawsuit has been filed against Capital One?

A class action lawsuit has been filed against Capital One, seeking to represent all affected consumers in the United States. The lawsuit aims to hold Capital One accountable for the data breach.

Q: How did the data breach occur?

The breach occurred when an ex-employee gained unauthorized access to sensitive information hosted by Amazon Web Services, which was used by Capital One for storage.

Q: What are the potential consequences for the ex-employee involved in the data breach?

The fact that the ex-employee was indicted on just one count suggests she may be cooperating with the government, indicating that there may be other individuals involved in the breach. The concern is that the stolen information may have been sold on the Dark Web for malicious purposes.

Q: What steps should individuals take if they believe they have been affected by the data breach?

Affected individuals should freeze their credit, have monitoring services in place, regularly check their bank and credit card statements, and file reports with law enforcement agencies and organizations such as the FTC and FBI.

Summary & Key Takeaways

• A class action lawsuit has been filed against Capital One after a data breach that affected 100 million Americans and 6 million Canadians.

• The lawsuit seeks to hold Capital One accountable for not maintaining sensitive consumer information in a secure environment.

• The breach involved an ex-employee who gained access to the information hosted by Amazon Web Services.