Citi Fined By Connecticut For Card Data Breach

By PYMNTS | September 2, 2013

The state of Connecticut has fined Citi $55,000 after finding that a flaw in its online banking service allowed hackers to access data of around 360,000 customers, according to Finextra.

The card data breach took place in 2011 and allowed criminals to steal around $2.7 million from Citi North America credit card users.

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“Citibank represented to its customers that its online system was secured, but ultimately the techniques hackers used to obtain individual account information were relatively simple and unsophisticated,” said George Jepsen, Connecticut Attorney General.

Read the full story here.