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June 10, 2011 - If you have a credit card through Citigroup, then you need to look closely at your next bill. Due to computer hacking, there has been a data breach of 200,000 Citigroup credit card accounts. The information that the hackers managed to get included the account numbers, the names appearing on each account, addresses and associated e-mail information. Social Security numbers were not accessed.
The good news about this breach is that the hackers didn't actually get enough information to steal the identities of Citigroup account holders. But there is also some bad news regarding the breach.
The breach occurred last month, but Citigroup only started notifying its customer yesterday. That means that if you have a credit card from them, it might be a good idea to check last month's bill just to make sure that there were no suspicious charges on it.
Customers who do receive notification that their account has been breached will find that their credit card account will need to be converted to new accounts. This will prevent further risk to cardholders for any future unauthorized charges.
As of this writing there have been no reports that any of the stolen cards have actually been used to make purchases. In the event your card is used to make a purchase without your knowledge, federal law limits your liability to $50. You will however need to notify the bank that your card was used without your permission and you will probably have to file a police report as well if you want to get your money back.
byJim Malmberg
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