p2pnet - rss feed: Huge Citigroup data loss
p2pnet.net News:- Another major US financial institution is reporting massive data loss.
Citigroup Inc, CitiFinancial’s finance division, says computer tapes holding information on about 3.9 million US customers have gone missing, lost by a courier in transit to a credit bureau, says the Associated Press.
“The bank said the tapes contained information about both active and closed accounts at CitiFinancial’s branch network” but not from CitiFinancial Auto, CitiFinancial Mortgage or any other Citigroup business," says the story. But CitiFinancial, "had no reason to believe that this information has been used inappropriately, nor has it received any reports of unauthorized activity."
"There is little risk of the accounts being compromised because customers have already received their loans, and no additional credit may be obtained from CitiFinancial without prior approval of our customers," Kevin Kessinger, executive vp of Citigroup’s Global Consumer Group and president of Consumer Finance North America is quoted as saying, adding that from July, data "will be sent electronically in encrypted form”.
Something you think we should know? tips[at]p2pnet.net
See:-
Associated Press - Citigroup data of 3.9M customers is lost, June 7, 2005
June 11th, 2005 at 9:50 am
The article makes it sound like the personnel in CiitFinancial’s finance division aren’t worried about this very bad situation. If that is how they really feel, I suggest they show a bit more urgency and concern for their millions of clients, me included. What if the courier was paid to “lose” the information? I certainly hope they’re pursuing every avenue to find and get back this information. Or else plan on covering everybody’s assets if something should go badly wrong.