The Severity of Citigroup's Security Breach

By The Atlantic Wire

Hackers have gained access to the private information from 200,000 accounts at Citigroup, one of the largest banks in the country, the Financial Times reported this morning. The Atlantic Wire's John Hudson rounds up what we know about the attack thus far and how Citigroup has reacted to what could end up being one of the biggest breaches in banking history.

Where the attack happened "The breach occurred at Citi Account Online, which holds basic customer information such as names, account numbers and e-mail addresses," reports FT. "Other information such as birth dates, social security numbers and card security codes are held elsewhere and were not compromised, Citi said."

Citigroup's response "The bank said it had contacted law enforcement officials and tightened its fraud detection procedures, but declined to provide further details or to say whether customers had reported suspicious transactions," the FT reports. In a statement to Reuters the bank said "We are contacting customers whose information was impacted. Citi has implemented enhanced procedures to prevent a recurrence of this type of event."

Read the full story at The Atlantic Wire.

This article available online at:

http://www.theatlantic.com/technology/archive/2011/06/the-severity-of-citigroups-security-breach/240184/