Citigroup: Customer losses from hack attack reaches $2.7M

Summary:The recent hacking attack against Citigroup led to customer losses in the range of $2.7 million, according to a report by the Wall Street Journal.

The recent hacking attack against Citigroup led to customer losses in the range of $2.7 million, according to a report by the Wall Street Journal.

In a briefing with government officials, Citigroup said about 3,400 customers suffered the loss as a result of the May security breach.

The accounts where losses occurred amount to less than 1% of the cards affected by the breach and 0.01% of Citigroup's outstanding credit cards in North America, the Journal reported.

From the article:

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Citigroup announced the data breach on June 9 and said six days later that "data that is critical to commit fraud was not compromised," including Social Security numbers, birth dates and card expiration dates and security codes.

But the hackers did obtain card numbers, account names and emails that could have been used with resources that were improperly obtained through other means to cause losses, one person familiar with the breach said.

Citigroup has instituted fraud monitoring on the accounts, and replaced 217,657 cards for customers whose accounts were still active and who hadn't received new cards for other reasons.

* Image via Aranami's Flickr photostream (CC 2.0)

Topics: Security, Government, Government : US

About

Ryan Naraine is a journalist and social media enthusiast specializing in Internet and computer security issues. He is currently security evangelist at Kaspersky Lab, an anti-malware company with operations around the globe. He is taking a leadership role in developing the company's online community initiative around secure content managem... Full Bio

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