Error "Exception has been thrown by the target of an invocation" while adding connections, if FIPS policy is enforced in Windows (4331706)

Getting the following error when adding connections in Content Matrix:

Scroll down the stack trace, there is this message "This implementation is not part of the Windows Platform FIPS validated cryptographic algorithms" in the inner exception:

There is also this error in the job log while batches are being uploaded to Azure BLOB storage:

Uploaded 0 File Blobs (Documents) in 647ms
Failed Blob Uploads: 1
-> 0000000000000001.dat[D:\AzureAPI\e58336aaaae8418f9827ca5cc39dc23b\Blobs\0000000000000001.dat]
Error: Exception has been thrown by the target of an invocation.
   at System.RuntimeMethodHandle.InvokeMethod(Object target, Object[] arguments, Signature sig, Boolean constructor)
   at System.Reflection.RuntimeConstructorInfo.Invoke(BindingFlags invokeAttr, Binder binder, Object[] parameters, CultureInfo culture)
   at System.Security.Cryptography.CryptoConfig.CreateFromName(String name, Object[] args)
   at System.Security.Cryptography.MD5.Create(String algName)
   at Microsoft.WindowsAzure.Storage.Core.Util.MD5Wrapper..ctor()
   at Microsoft.WindowsAzure.Storage.Core.Util.StreamExtensions.WriteToSync[T](Stream stream, Stream toStream, Nullable`1 copyLength, Nullable`1 maxLength, Boolean calculateMd5, Boolean syncRead, ExecutionState`1 executionState, StreamDescriptor streamCopyState)
   at Microsoft.WindowsAzure.Storage.Blob.CloudBlockBlob.UploadFromStreamHelper(Stream source, Nullable`1 length, AccessCondition accessCondition, BlobRequestOptions options, OperationContext operationContext)
   at Metalogix.Azure.ConsoleProcessor.AzureBlobStorageManager.UploadBlob(String storageConnectionString, String containerName, String blobName, String localBlobFilePath)

This issue occurs if the following group policy has been enabled on the machine running the Content Matrix Console. 

1) Disable the group policy

1. Open Control Panel > Administrative Tools > Local Security Policy.
2. Expand Local Policies and select Security Options.
3. Double-click on "System cryptography: Use FIPS compliant algorithms for encryption, hashing, and signing", and then choose Disabled.
4. Click OK.

      OR

2) Configure Content Matrix to bypass FIPS

In windows environments where FIPS policy cannot be disabled, applications can be configured to ignore FIPS by adding enforcefipspolicy tag in the application config file. Follow the steps below to configure Content Matrix to bypass FIPS.

1) Close Content Matrix application. Double check task manager to see there is no background Content Matrix / Metalogix.SharePoint.Adapter.CSOM process running.

2) Navigate to the Content Matrix Installation folder. For instance, “C:\Program Files (x86)\Metalogix\Content Matrix Consoles\SharePoint Edition")

3) Edit the file named "Content Matrix Console - SharePoint Edition.exe.config"

4) Insert the tag under configuration -> runtime as show in the screenshot below and save it.

5)  Launch Content Matrix.  Content Matrix will no longer throw FIPS errors while connecting/migrating.

For more information about enforcefipspolicy tag, please visit this link here.