Friday, June 24, 2011

Citi Hackers Made $2.7 Million

Robert McMillan writes on

Citigroup suffered about US$2.7 million in losses after hackers found a way to steal credit card numbers from its website and post fraudulent charges.

Citi acknowledged the breach earlier this month, saying hackers had accessed more than 360,000 Citi credit card accounts of U.S. customers. The hackers didn't get into Citi's main credit card processing system, but were reportedly able to obtain the numbers, along with the customers' names and contact information, by logging into the Citi Account Online website and guessing account numbers.

Until now, it wasn't clear how much -- if any -- fraud had occurred as a result of the theft. But Citi confirmed Friday that there were losses of $2.7 million from about 3,400 accounts.

The bank has said its customers will not be liable for the losses.

More here.


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