Last Thursday, November 7, 2019, Capital One Financial Corp. announced its change in management. Based on its recent announcement, the bank will be replacing its chief information security officer (CISO), Michael Johnson. News of the company’s management move comes after the firm’s data breach reveal.
According to The Wall Street Journal, the bank informed its employees last Thursday about the management scheme of the company. From being the company’s head of security, Johnson will now take on the adviser position for the bank. In line with this, the bank reportedly started looking for an external replacement following Johnson’s departure from the said position.
In a statement, the bank said Johnson will “serve as senior vice president and special advisor dedicated to cyber security.” A Capital One representative confirmed the event in an email sent to Tech Crunch.
The interim CISO for Capital One is Mike Eason, who is also the chief information officer of the commercial bank. Despite being appointed to this position, The Wall Street Journal states Eason does not provide credentials for cybersecurity experience.
Numerous employees under the banking institution also left the company in the wake of the data breach. Lapses in security, as well as frustrations over the management, were some of the main reasons for leaving. Employees under the cybersecurity division also felt the issue “hadn’t been fully addressed,” reports The Wall Street Journal.
Brief Background
The Capital One data breach was announced in July 2019, four months after the initial unauthorized access. Based on the report by USA Today, the breach compromised 106 million credit card customers and applicants. Of this number, individuals most impacted by the unfortunate event are users who availed bank services from 2005 to 2019.
The commercial bank’s data breach compromised confidential customer and applicant data. Names, addresses, phone numbers, postal addresses, email addresses, and dates of birth were obtained by hackers. Likewise, income, credit scores, and credit limits were also leaked, states Tech Crunch.
Paige Thompson was arrested following the hack. Thompson was accused of unauthorized access and leaking of confidential information.
Continuing Glitches
While Capital One assured the public of its enhanced security measures, the bank encountered another issue last November 2, 2019. The technical issue reportedly affected some services, such as customer access to accounts and direct deposits facilities.
Apart from the banking giant, Chase Bank also announced its vulnerability last July 2019. Wells Fargo also previously encountered glitches in its system, reports USA Today.
