Citigroup has said that hackers have accessed bank card data

By | May 14, 2011

According to a recent press report Citigroup Inc told the press that computer hackers have violated the e bank’s network and accessed data on hundreds of thousands of bank card holders in the latest of a string of cyber attacks on high-profile companies. Citigroup said that about one percent of its card customers were affected by the breach. The names of customers, account numbers and contact information, including email addresses, had been viewed.

Sean Kevelighan, a US-based spokesman told the press that information such as birth dates, social security numbers, card expiration dates and card security codes (CVV) were not compromised and the new procedures have been implemented in order to avoid a recurrence of this type of event in future.

Reports said that Citigroup has also discovered the unauthorized access at Citi Account Online, an online banking service, through routine monitoring. , Citigroup global enterprise payments head Paul Galant earlier said that the security breaches are a fact of life for financial institutions and that it is the mission of the banking industry to keep the customer base safe and customers feeling secure about their financial transactions and payments.

Citigroup, the home loan and personal loan lenders have taken steps to protect the details of their customers and avoid any such breach in future.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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