Citigroup: $2.7 Million Stolen From Customers As Result Of Hacking

After a cyberattack hit Citigroup, exposing over 360,000 user accounts, the bank has come forward to reveal just how much money's been lost.

The answer: $2.7 million was lost, affecting about 3,400 people, according to Bloomberg Businessweek. The bank will reimburse customers for their loss. Over 200,000 customers were issued new cards with a notification letter.

Citibank has been criticized, however, for not offering customers a full year of preventive credit file monitoring services, the standard for large companies having suffered such attacks.

Experts have suggested that hackers used spyware to capture data from customers as they logged in, though they were not able to get the CVV codes that accompany the physical card. With 154 million Americans owning credit cards, the incidence of such hacks is only expected to rise.

The first half of 2011 has already seen a number of major hacks, including, but not limited to, a series of hacks on Sony, subsequent hacks on Sega, PBS, the CIA, the Senate, and more.

Comments

[egblue]

09:49 PM on 06/29/2011

It's about time major financial institutions realize that data security is something that needs to be taken seriously. Here at http://payment.ATMCash.com that's what we've spent years doing before even accepting our first customer.

[TYRANNASAURUS]

06:00 PM on 06/29/2011

Citigroup Admits Hackers Stole Money From Their Customers......

SCREW ALL THE BIG BANKS....I bank with a smaller local kind of bank that treats me like a real human and charges me nothing for all the services I receive... and I MEAN NOTHING.

[stillnotsuperman]

01:45 PM on 06/28/2011

I would have liked to have been told the truth. They just called and said there was some activity they needed me to approve. I said it wasn't my doing. They just said they would send me a new card. No details on what was going on.

[mikala]

11:25 AM on 06/28/2011

Shouldn't the headline read, "Citibank admits $2.7 Million Stolen From Citibank As Result Of Hacking" Customers ????? Sorry the customers was in your bank and is your responsibility.

[NancyY]

10:54 PM on 06/30/2011

Wrong. The hackers were probably from another country, and not Citibank customers. I worked for a government contractor and I can remember that our IT department was constantly having to upgrade their IT systems to ward of the hackers from Nigeria, Korea, China, and southern Europe. The stinkers evidently have little else to do....but they, and their mothers, continue to breed.

[Acoriano79]

09:39 AM on 06/28/2011

ya and i was one of them. what a joke citibanks customer service is... never again will i deal with a bank. once my money my c.d's are up see u the fuucckk later you freaking clowns.. they got me for 28,000...and that was one of the smaller numbers. i literally had to shut my business down for two weeks and lost over 100K because of it...are you going to reemburse that citibank? i should have been in bankook with the ex vice pres of the company spending some of that 20 million he stole from the customers.. PEOPLE ARE BETTER OFF STORING MONEY IN COFFEE CANS AND BURING THEM IN THEIR BACK YARDS THESE DAYS!!

[trespanieli]

07:25 AM on 06/28/2011

Which is the greater crime? Citibank being hacked or CItibank defrauding the US taxpayers out of billions in TARP money?

[ettreeseedco]

04:13 AM on 06/28/2011

Psychic insight: It's in their back pocket. Does a hacker not electronically transfer money and does he not fracture spacetime imprinting memory on gravity? Everyone leaves a trail and all is recorded.

[Zachary Edwards]

03:04 PM on 06/28/2011

2.7 million is not even enough money for them to want to steal. That is, to be honest, chump change.

If 207 million was missing, then you might have a working theory.

[nomac]

12:42 AM on 06/28/2011

"in other news....., citibank admits it wasn't hacked, just lost money in bad investments"

[mlondeaux]

07:22 PM on 06/28/2011

nomac - That's what they all say, LOL.

[Jason Vineyard]

12:15 AM on 06/28/2011

I envy hackers so much! Here we are being wage slaves. Showing up to work ontime every day. Doing the daily drag. These guys sit at home, drink, hang out, and get online write some code them upload it to a company and steal millions. And on top of that it's a victimless crime because all the customers were reimbursed so its not even an immoral thing to do. lol they totally live the life.

[ssfahrer]

12:42 AM on 06/28/2011

And where did Citibank get the money to reimburse their "hacked" clients? TARP!!!!!
P S-- how do you prove you were hacked in the first place?

P P S-- this hacking stuff is a VERY immoral thing to do (at least in the moral system I believe in).....

[Zachary Edwards]

03:07 PM on 06/28/2011

Man, I envy bank robbers so much! Here we are, being wage slaves. Showing up to work on time every day. Doing the daily drag. These guy sit at home, drink, hang out and hop into the car and drive to a bank with a couple of guns and steal millions. And on top of that, it's a victimless crime because all the customers will be reimbursed, so its not even an immoral thing to do. Man, they totally live the life.

[bcinu2]

12:12 AM on 06/28/2011

Most fitting even though it hits some people that are just average Joes and Jills. What would be a nifty thing though is for a petition drive in open letters to Hackers everywhere to please play Robin Hood. Steal the money from those fat greedy basta*d banks and begin depositing into checking accounts with low balances. If they were to do enough of them, I think it would fitting for the bankers making them crazy for sure.

Then in the petition also let them know that anyone that is caught and prosecuted should plead not guilty. Then hope that the jury that is picked has a majority of people on it that will find them not guilty. Stealing is of course immoral. Yet were it done by "Robin Hood" who turns around and gives the money to average people, I think I would sign the petition. Sometimes one must succumb and fight fire with fire. In this case these folks robbed many times over and not prosecuted by the Obama administration, as he just does not seem to have desire or fire to take on all of Wall Street. So when your government lets you down, it is not necessary to take it. Hackers could as well log into Companies like Halliburton, and send out a ton of checks to randomly chosen people.

What does everybody else think? Perhaps a brand new type of revolution that gets right to the heart of matters. I like it!

[Adrian Rodriguez21]

11:03 PM on 06/27/2011

How much less is that than how much they stole?

[ecurbwl]

09:43 PM on 06/27/2011

In my opinion, Citibank steals from their customers on a regular day whether "hacking" is going on or not. Their high interest rates and other high fees are a joke ! Oh, and don't forget their CEOs mega billion dollar bonuses at taxpayer's expense.

[bboer24456]

09:41 PM on 06/27/2011

First of all I didn't think customers "owned" credit cards, I thought that they were owned by the issuee. Citi Bank is sure having a day in th barrel, with former VP accused of 19m embezzelment. Wonder what else the are about to reveal////

[kagu632418]

09:21 PM on 06/27/2011

I guess I stick with my Credit Union ... Bigger is NOT always better. Most of all, I am treated like a Human Being ...

[ecurbwl]

09:45 PM on 06/27/2011

I'm with you on that ! credit Unions are not the rip-off that Citibank is. they are still using stimulous, taxpayer money to pay off their CEO's mega billion dollar bonuses.

[Cecil Worley]

09:09 PM on 06/27/2011

the ceo probably did it