REUTERS: Capital One Financial Corp's assurances that a major data breach would have a limited impact on customers or profit failed to convince investors on Tuesday, with the bank's shares closing down 5.9per cent.
However, investors are wary, given the scale of the breach, the reputational impact on Capital One and likelihood of additional costs, analysts said. The breach stemmed from Capital One's decision to store data in Amazon.com Inc's cloud unit, called Amazon Web Services , where a former employee named Paige Thompson managed to access its data. She was charged with computer fraud by federal prosecutors in Seattle and made her first court appearance on Monday.
Capital One attributed the problem to an error in its own infrastructure. The bank has been an enthusiastic adopter of external cloud services, with senior executives appearing at AWS events or touting the benefits.Capital One did not have an immediate response to Reuters questions about its technological vulnerabilities on Tuesday. But analysts said its reliance on a third-party provider would come under new scrutiny.
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