Citigroup has revealed a major computer breach
has left hundreds of thousands of its credit card customers exposed
to hackers.
Citi Account Online, which stores basic
customer information such as names, account numbers and email
address, has been cited by Citi as the source of the breach. The
bank told the Financial Times other information such as
birth dates, social security numbers and card security codes are
held elsewhere and as such have not been compromised.
Go deeper with GlobalData
Citi discovered the breach in early May but
only went public with the details after being questioned by the
FT.
“For the actual breach to happen at a bank is
a very big deal,” Avivah Litan, an analyst with Gartner Research
told the FT.
The bank told the FT about 1% of its
card customers has been affected. According to the bank’s annual
report, Citi Cards has about 21m customers in North America.
Although Citi has claimed the breach only
affected credit card accounts, the FT has been told a
different story after being contacted by several people who
confirmed their debit cards have been compromised.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataCiti has contacted law enforcement officials
and tightened its fraud detection procedures as a result of the
breach.
The Citi security breach is the latest in a
long line of data breaches to hit the financial services industry
in recent months. See the list of related articles below for more
details.
