30 October 2014

Citi replaces all debit cards involved in Target breach

16 January 2014  |  4260 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

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