Fergie's Tech Blog

Finally, A Statement: Citibank Cuts Off Some ATM Cards After Thefts

A series of consumer accounts had been compromised during data leaks by third-party U.S. retailers, [a Citibank spokesman] said. She would not indicate which retailers were involved. Impacted accounts had been placed on a watch list.

It's customary for credit and debit card issuers to monitor accounts for fraud after credit card data is stolen from a merchant. Often, the accounts aren't canceled until there's evidence they are actively being used in fraud.

"To protect customer accounts that were affected, we placed a special transaction block in those three countries on PIN based transactions," Citibank said in its statement. "We are currently reissuing cards, as appropriate."

posted by Fergie @ 3/07/2006 04:14:00 PM