PSIcapture Migration: SharePoint Office 365: Error (407) Proxy Authentication Required

Error:

When using the PSIcapture SharePoint migration, the following error is displayed in the log:

Error connecting to SharePoint: The remote server returned an error: (407) Proxy Authentication Required. 

Solution:

This has to do with Local Area Network(LAN) Settings. Ensure the Proxy server setting is checked off. Use a proxy server for your LAN(These settings will not apply to dial-up or VPN connections).

Connection settings screenshots: