Russian Cyber Gang Steals Tens of Millions From Citibank

Is there no end to the run of mishaps at Citibank? Remember, as the U.S. Government owns a massive stake in Citi, paid for with our tax dollars, the Russian hackers stole your money. The latest, from the Wall Street Journal:

The Federal Bureau of Investigation is probing a computer-security breach targeting Citigroup Inc. that resulted in a theft of tens of millions of dollars by computer hackers who appear linked to a Russian cyber gang, according to government officials.

The attack took aim at Citigroup’s Citibank subsidiary, which includes its North American retail bank and other businesses. It couldn’t be learned whether the thieves gained access to Citibank’s systems directly or through third parties.

The attack underscores the blurring of lines between criminal and national-security threats in cyber space. Hackers also assaulted two other entities, at least one of them a U.S. government agency, said people familiar with the attack on Citibank.
[Targets]

The Citibank attack was detected over the summer, but investigators are looking into the possibility the attack may have occurred months or even a year earlier. The FBI and the National Security Agency, along with the Department of Homeland Security and Citigroup, swapped information to counter the attack, according to a person familiar with the case. Press offices of the federal agencies declined to comment…

[continues in the Wall Street Journal]

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  • http://disinfo.com Majestic

    Interesting update: I was contacted directly by a PR flack for Citibank, Robert Julavits, who sent me this statement:

    For Immediate Release
    Citigroup Inc. (NYSE: C)
    December 22, 2009
    Citi Says Its Systems Were Not Breached

    NEW YORK – In response to an inaccurate story today by The Wall Street Journal on Citi’s cyber security, Citi issued the following statement:

    Allegations reported today by The Wall Street Journal of a breach of Citi systems and associated losses are false. Any allegation that the FBI is working on a case at Citigroup involving a breach of Citi systems resulting in tens of millions of dollars of losses is false. There has been no breach and there have been no associated losses. We take the security of our customers’ accounts and systems seriously. We continuously take steps to protect our customers against fraud, and we have state-of-the-art processes to detect and prevent criminal activity.

    Occasionally, as with virtually all financial institutions, there are instances of fraud or breaches of third-party systems that result in our taking actions to protect our customers and Citi. However, contrary to the Wall Street Journal report today, there has been no breach of Citi’s systems.

    ###

    Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at http://www.citigroup.com or http://www.citi.com.

  • http://disinfo.com Majestic

    Interesting update: I was contacted directly by a PR flack for Citibank, Robert Julavits, who sent me this statement:

    For Immediate Release
    Citigroup Inc. (NYSE: C)
    December 22, 2009
    Citi Says Its Systems Were Not Breached

    NEW YORK – In response to an inaccurate story today by The Wall Street Journal on Citi's cyber security, Citi issued the following statement:

    Allegations reported today by The Wall Street Journal of a breach of Citi systems and associated losses are false. Any allegation that the FBI is working on a case at Citigroup involving a breach of Citi systems resulting in tens of millions of dollars of losses is false. There has been no breach and there have been no associated losses. We take the security of our customers' accounts and systems seriously. We continuously take steps to protect our customers against fraud, and we have state-of-the-art processes to detect and prevent criminal activity.

    Occasionally, as with virtually all financial institutions, there are instances of fraud or breaches of third-party systems that result in our taking actions to protect our customers and Citi. However, contrary to the Wall Street Journal report today, there has been no breach of Citi's systems.

    ###

    Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at http://www.citigroup.com or http://www.citi.com.