Citigroup Acknowledges Hack, Cautions Clients of Phishing

Citigroup the banking giant in USA told customers of a PC-hack that was executed during May 2011 affecting over 360,000 credit cards, almost twofold the number earlier admitted. Specifically, the bank, on June 15, 2011, stated that because cyber-criminals executed the hack, a large number of Citi-branded payment cards counting 360,083 in North America had been hijacked. Previously, it had stated that the assault influenced over 210,000 accounts of credit card consumers - approximately one percent of its American client-base. Hindustantimes.com reported this on June 16, 2011.

Further, it's reported that the hackers managed to acquire admission into customer names along with contact details. But, other important details viz. expiry dates of the cards, their CVV codes, and Social Security Numbers remained free from the access.

Nevertheless, according to security researchers, sufficient data has been garnered for letting computer hackers craft as also dispatch workable phishing e-mails so users who'd been affected could be scammed into giving away extra details thus facilitating ID-theft or credit-card fraud.

Stated Managing Director Dermot Williams of Threatscape, users required treating unsolicited e-mails asserting as coming from their credit card companies or banks with suspicion despite the messages seeming to already contain pretty much of details regarding the end-users. That was especially true incase unsolicited contacts wished for giving whichever detail via the telephone alternatively if an e-mail did the same via asking to follow a web-link, he added. Siliconrepublic.com reported this during the 2nd-week of June 2011.

Meanwhile, there was nothing Citigroup disclosed about the way the breach occurred. But according to it, it had enforced improved procedures for stopping the above kind of event's recurrence. Also, it had informed government officials and law enforcement, while continuously maintained watch over communication channels and client service. Finally, it had adopted all essential measures for making sure its accountholders were cared for, the bank explained. Hindustantimes.com reported this.

Said Chairperson of FDIC (Federal Deposit Insurance Corporation) Sheila Bair, both financial regulators and banks should maintain vigilance, adding that federal bodies like the FDIC were designing fresh rules for making banks improve access to Internet accounts. Thenorthwestern.com reported this on June 12, 2011.

» SPAMfighter News - 6/24/2011