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Financial Risk Manager Part 2

Financial Risk Manager Part 2

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A risk management expert is presenting at a banking event about the oversight of risks associated with third-party vendor alliances. To highlight the importance of identifying these risks and to illustrate lessons learned, the expert shares multiple examples of major financial losses and security breaches experienced by banks due to insufficient or dishonest third-party vendor behaviors. One example mentioned is the significant financial loss faced by Capital One, an American bank holding corporation, due to its relationship with a third-party vendor. What is the most accurate description of the situation that led to the loss in this case?

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