Hundreds of Citigroup Customers Lost A Total of $2.7 Million From Citigroup Hack Attack

June 30, 2011
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Citigroup Inc. has told government officials that about 3,400 of the customers whose credit card information was hacked have suffered about $2.7 million in losses, according to people familiar with the matter.

The disclosure is the first acknowledgment by the New York company that the May security breach resulted in any losses.

Citigroup has previously indicated it would cover any losses, saying customers wouldn’t be liable for unauthorized use of their accounts in connection with the attack.

Last week, Citigroup said 360,069 accounts were hacked, or 1.5% of its 23.5 million North American credit-card accounts.

Story by Randall Smith for the Wall Street Journal

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