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Home In the News In The News Citi 'Breach' - Much Ado About Nothing

Citi 'Breach' - Much Ado About Nothing

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Seems the Wall Street Journal may have had some fact checking issues when reporting that Citi had a massive breach being investigated by the feds and estimated to be in the tens of millions of dollars.

It seems that the WSJ mixed two seperate cases up.  The first involved an massive ATM hack a few months back where millions were stolen, and used Citi's ATM machines.  The second is the on-going FBI case investigating clients of various financial institutions being trojaned with Zeus, Clampi and others.  These credentials are then used to empty accounts and move the money overseas. 

Unconfirmed reports place one group's activities at $10 - $15 million dollars a month going to an unnamed eastern block country, with a large amount of money going back into the groups activities for R&D.