Jun 09 2011

Citi credit card security breach discovered

Category: Security BreachDISC @ 10:42 am

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“Citigroup says it has discovered a security breach in which a hacker accessed personal information from hundreds of thousands of accounts.

Citigroup said the breach occurred last month and affected about 200,000 customers.”

“During routine monitoring, we recently discovered unauthorized access to Citi’s account online,” said Citigroup, in a prepared statement. “A limited number — roughly 1 percent – of Citi bankcard customers’ accounting information (such as name, account number and contact information including email address) was viewed.”

According to its annual report, Citigroup has about 21 million credit card accounts in North America, where the breach occurred.

The statement went on to say that the customers’ Social Security numbers, dates of birth, card expiration dates and card security codes “were not compromised.”

Well the routine monitoring discovered the Citi Group incident which clearly shows that intrusion was not discovered during the incident but after the incident had happened.
Cyber intrusion cost will increase and depend upon how late the incident was detected. The organizations should change their corporate strategy to more proactive approach where they can maintain, monitor and improve security controls based on the current value of the information asset.

If you’re a Citibank customer, we suggest you take a look at your account and immediately report any irregularities.

Stopping Identity Theft: 10 Easy Steps to Security


Tags: Citigroup, Credit card, Customer, Financial Times, Online service provider, PlayStation Network, Security, Social Security number

One Response to “Citi credit card security breach discovered”

  1. disc7 says:

    Financial organizations have relatively mature security infrastructure then the rest of the market.  If the hackers are capable of infiltrating the financial market way deep in their infrastructure where their crown jewel reside, this should raise concern  about the security of the critical infrastructure. Hack attack on critical infrastructure (utilities) can have huge impact and widespread implication.

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