Wednesday, June 15, 2011

UPDATE: Conn Attorney General Seeks Data On Citigroup Breach - NASDAQ





(Adds response from Citigroup in fourth and fifth paragraphs.)

DOW JONES NEWSWIRES

Connecticut's attorney general asked Citigroup Inc. (C) for more information about its recent data breach, saying the bank hasn't yet explained how the attack happened.

Last week, Citi publicly disclosed that hackers apparently accessed data on some Citigroup credit-card users at a time when several major corporations and other institutions have faced embarrassing data breaches.

Attorney General George Jepsen said in a letter to the company that he expects the bank will fully compensate any Connecticut consumers harmed by the attack, which affected about 200,000 customers, or 1% of the company's card users in North America.

A spokesman for Citi declined to discuss the attorney general's request, but said that "none of the data breached was sufficient to perpetrate fraud" at the bank's credit-card accounts.

"Citi immediately rectified the data breach upon discovery, while also placing internal fraud alerts and monitoring on all accounts at risk," the spokesman said. "Within three weeks...we began sending notification letters to clients, the majority of which included re-issued credit cards."

The company said it had referred the matter to law-enforcement authorities and planned to send replacement cards to a majority of the affected customers.

Shares were recently off 0.8% to $38.86 Tuesday.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@ dowjones.com

-By Matthias Rieker, Dow Jones Newswires; 212-416-2471; Matthias.Rieker@ dowjones.com

    (END) Dow Jones Newswires   06-14-111221ET   Copyright (c) 2011 Dow Jones & Company, Inc. 

Source: http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201106141221dowjonesdjonline000310&title=update-conn-attorney-general-seeks-data-on-citigroup-breach

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