Citi Dumps Target-Affected Debit Cards

In order to prevent further misuse of active debit cards held by customers, Citi has replaced all debit cards in its network affected by the Target breach.

Sources told the New York Times that the bank wishes to avoid impairing holiday sales by reissuing millions of cards.

“Citi said its decision this week was not motivated by any new surge of fraud or by additional information on the breach but was a precautionary measure. Still, Citi’s move highlighted the potential for continuing damage to consumers, banks and Target as data stolen in the breach may keep leaking into the black market,” the Times reported on Jan. 15.

Curious about how the Target breach scandal could play out over the next few months? Read Market Platform Dynamics CEO Karen Webster’s commentary on the topic by clicking here.

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