Capital One Bank, a well-known financial institution in the United States, experienced a significant cyber attack in 2019. This breach resulted in the exposure of personal details belonging to millions of Americans. The attack compromised sensitive financial information, including bank account details, credit and debit card numbers, and other crucial data from approximately 98 million individuals.
As a consequence of this breach, many affected individuals suffered financial losses due to identity theft and fraud. Acknowledging its responsibility, Capital One established a settlement fund of $190 million (about ₹1,600 crores) to compensate the victims.
Who Is Eligible for Compensation?
Individuals whose personal data was exposed in the 2019 Capital One data breach may be eligible for compensation. The settlement is designed to provide financial relief to those who faced identity theft, fraudulent transactions, or other related losses due to the incident.
Compensation Amount and Deadline
Eligible individuals can receive compensation ranging from $25,000 to $50,000, which is approximately ₹21 lakh. The exact compensation amount depends on the financial loss suffered due to identity theft or fraud.
- Compensation payments begin: September 28, 2023
- Final deadline for claim submission: February 21, 2025
How to Apply for the Capital One Settlement Claim
If you were impacted by the data breach and qualify for compensation, follow these steps to submit your claim:
- Visit the Official Website – Go to the Capital One Class Action Settlement website and access the claim form.
- Provide Personal and Banking Details – Fill in your required personal details and financial information in the form.
- Upload Supporting Documents – Submit proof of identity along with any documents showing financial loss due to fraud or identity theft.
- Submit the Claim Form – After submitting your claim, it will undergo review. If you meet the eligibility criteria, you will receive compensation.
Is This Claim Legitimate? (Fact Check)
- Fact: Capital One Bank has agreed to a $190 million compensation fund.
- Fact: Eligible individuals can receive up to $25,000, depending on actual financial losses.
- Fact: The claims process began on September 28, 2023, and will continue until February 21, 2025.
Key Points to Remember
- Only individuals whose personal information was leaked in the 2019 cyber attack are eligible.
- You must receive an official notification from Capital One Bank to apply.
- Ensure you apply before the February 21, 2025, deadline to qualify for compensation.
Conclusion
Following the 2019 cyber attack that compromised the personal data of 98 million U.S. citizens, Capital One has set up a $190 million settlement fund to compensate those affected. If you are eligible, you must submit your claim before the deadline to receive financial reimbursement for any losses incurred.
Frequently Asked Questions (FAQs)
Q1. Why is Capital One Bank offering this settlement?
A1. The compensation is being provided to individuals impacted by the 2019 data breach to cover financial losses resulting from identity theft and fraud.
Q2. How can I apply for this claim?
A2. You can submit your claim by filling out the official form available on the Capital One Class Action Settlement website.
Q3. Will every affected individual receive the same compensation amount?
A3. No, the compensation varies depending on the actual financial losses experienced by each individual.
Q4. When is the deadline for submitting the claim?
A4. The final date to file a claim is February 21, 2025.
Q5. Do I need to complete any steps before or after receiving compensation?
A5. Yes, you must verify your eligibility by submitting required documents. If approved, you will receive your compensation accordingly.
