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Plaintiffs in a class-action complaint claimed that if Capital One's cloud computing systems had proper cybersecurity defenses, hacker Paige Thompson would not have been able to access them. According to the claim, the bank “knew of the particular security vulnerabilities that permitted the data breach” but did nothing to address them. Capital One did not return a request for comment. In a statement, it stated that it agreed to the compensation “in the interest of avoiding the time, expense, and uncertainty of continued litigation.”
Here's everything you need to know about the Capital One Data Breach Settlement, including who is eligible for a check, how to make a claim, and how much money you may be entitled to.
What Exactly Happened In The 2019 Capital One Data Breach Case?
In one of the greatest financial security breaches in US history, a hacker gained access to the personal information of over 106 million Capital One customers and applicants in March 2019. The enormous hack remained undetected for four months.
According to Capital One, about 140,000 Social Security numbers and 80,000 US bank account numbers were exposed, along with birth dates, residences, phone numbers, credit balances, transactions, and credit ratings. According to the bank, no login information or credit card account details were accessed; nonetheless, one million Canadian credit card customers and applicants' Social Insurance numbers were exposed.
Paige Thompson, a Seattle engineer, was convicted in June 2022 of wire fraud, unlawful access, and damage to a protected computer in connection with the hack. According to Capital One, Thompson fraudulently obtained personal information from credit card applications submitted between 2005 and early 2019 for both personal and small-business accounts.
In addition to paying up to $190 million to impacted consumers, Capital One was fined $80 million and committed to improving its cloud security practices.
Who Is Eligible For Money From The Capital One Settlement?
According to Capital One, about 98 million applicants and cardholders are entitled to submit a claim. The company said it sent letters and emails to members whose Social Security information or bank account details were compromised in the incident.
If you feel you are qualified but have not received a notice, please contact the settlement administrator at 855-604-1811 for assistance.
How Much Will I Get From The Capital One Settlement?
Class members are eligible to receive up to $25,000 in compensation for lost time and out-of-pocket expenses related to the breach, such as unreimbursed fraud charges, money spent combating identity theft, and professional data security costs. You can claim up to 15 hours of lost time spent resolving the problem, at a minimum amount of $25 per hour.
The settlement also includes three years of free identity protection services from the Pango Group, such as identity monitoring, lost wallet protection, security freezes, dark-web monitoring, free account restoration, and $1 million in identity theft and fraud insurance.
How Can I Make A Claim In The Capital One Settlement?
You can file online through the class-action settlement website. You will need the Unique ID and PIN written on the notice you got from Capital One in the mail or via email, as well as specific proof like receipts, bank statements, canceled checks, and invoices. If you misplaced or never got your notification, please contact the settlement administrator at 855-604-1811.
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Identity Defense Services
The Settlement allows you to defend yourself from unwanted use of your personal information. Settlement Class Members may have made a claim to receive up to five (5) years of free Identity Defense Services from Pango. These services offer the following features:
- Dark web surveillance for your Social Security number, date of birth, address, driver's license number, passport number, payment cards, email addresses, and other information.
- Identity monitoring and authentication notifications.
- Lost wallet protection.
- Security freeze capability in many categories: Credit – Experian, Equifax, TransUnion, and Innovis; Specialty Finance – Sage Stream, Clarity DATAX, and CoreLogic.
- The U.S.-based customer support team specializes in detecting and resolving identity theft and fraud.
- Additionally, users may get insights and tips on their dashboard.
To optimize the protection provided by this service, you should have filed a claim for Identity Defense Services by September 30, 2022. You can enroll in the free Identity Defense Services at any time while the service is available, up to February 13, 2028. Regardless of when you enlist, your free identity defense services will finish on the same date.
Free Restoration Services
All Settlement Class Members, even those who did not enroll in Identity Defense Services or make a claim, will be eligible for Restoration Services provided by Pango. This coverage is a separate benefit that gives all Settlement Class Members access to U.S.-based fraud resolution specialists who can help with important tasks like placing fraud alerts with credit bureaus, disputing inaccurate information on credit reports, scheduling calls with creditors and other service providers, and collaborating with law enforcement and government agencies to dispute fraudulent information.
Conclusion
In conclusion, the Capital One Data Breach Settlement offers affected individuals the opportunity to claim compensation for the data breach. It is important to stay informed about eligibility, deadlines, and how to submit a claim to ensure rightful compensation.
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