Office of Comptroller of Currency Archives - Corruption, Crime & Compliance

25 Aug, 2022

Regulatory Implications from 2019 Capital One Hack and Recent Conviction of Former AWS Engineer

Paige Thompson, a former Amazon Web Services employee, was recently convicted of seven counts of fraud in U.S. District Court for stealing personal data from more than 100 million customers from unsecured accounts stored on Amazon’s Web Service in the cloud. The data breach cost US bank Capital One more than $270 million in compensation and regulatory fines for the breach. Thompson orchestrated the theft...

General

4 Dec, 2020

OCC Fines JP Morgan Chase $250 Million for Deficient Internal Controls

Banking regulators have been flexing their muscles. With the coming Biden Administration, this may portend the beginning of a new, enforcement wave. Some have suggested that banks are resolving these cases before a more aggressive approach is taken by the new Biden Administration. Citigroup recently was tagged for $400 million by the Treasury Department’s Office of the Comptroller of the Currency (OCC). The OCC also...