The Wall Street Journal is reporting that Citigroup’s Citibank subsidiary was hacked over the summer, or even earlier, by cyber criminals thought to be part of a Russian gang associated with members of the hacking enterprise, Russian Business Network. According to government officials, the security breach may have resulted in the theft of tens of millions of dollars. The FBI is reportedly investigating the attack on Citigroup’s computer networks. And people familiar with the breach report that the same gang of hackers attacked at least two other entities, including a U.S. government agency. Citigroup officials are denying the cyber attack and the theft of millions.
The breach was first detected by the US government, and Citigroup reportedly joined forces with the FBI, the National Security Agency and the Department of Homeland Security to stop the hackers.
Joe Petro, managing director of Citigroup’s Security and Investigative services, said, “We had no breach of the system and there were no losses, no customer losses, no bank losses.” Petro also denied the reports that the FBI was investigating a theft at the bank. “Any allegation that the FBI is working a case at Citigroup involving tens of millions of losses is just not true.”
The FBI estimates that US losses attributed to online crime topped $260 million in the last year.
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