11 February 2016

Citi replaces all debit cards involved in Target breach

16 January 2014  |  5527 views  |  0 Citi Web screen shot

Citi has decided to replace all customer debit cards involved in the massive data breach at retail giant Target, according to the New York Times.

Citing sources, the Times says that the bank did not make the move earlier because it wanted to avoid disruptions for customers over Christmas. The decision is precautionary and not down to any spike in fraud.

JPMorgan began replacing around two million debit cards just days after the Target breach was disclosed but other banks, including BofA, Wells Fargo and US Bank, have opted to resist a mass reissue, instead promising to monitor for fraud.

Meanwhile, politicians are stepping up their interest in the Target incident, which saw crooks steal the details of around 40 million customer cards and the personal information of 70 million by installing malware on POS terminals.

Senator Jay Rockefeller, chairman of the Commerce Committee, has sent a letter to Target CEO Gregg Steinhafel asking for a briefing from the firm's information security officials on the investigation into the attack. Democrats in the House of Representatives are also calling for committee hearings.

KeywordsCARD FRAUD

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

14 January, 2014
10 January, 2014
20 December, 2013
19 December, 2013

Related company news

 

Top topics

Most viewed Most shared
UK sets out open banking API framework
13330 views comments | 91 tweets | 84 linkedin
Visa opens up to developers
9441 views comments | 26 tweets | 43 linkedin
European mobile banking service Pocopay go...
7902 views comments | 25 tweets | 14 linkedin
How to accelerate your fintech startup
6970 views comments | 32 tweets | 9 linkedin
Deutsche Bank calls for co-operation with...
6913 views comments | 27 tweets | 30 linkedin

Featured job

to $120K base, double OTE, benefits
New York City, NY or Boston, MA (USA)

Find your next job