Finance
Citibank Sued by New York State Over Online Fraud Safeguards
- NY alleges failed data security, refusal to reimburse victims
- Citi says it has taken ‘proactive steps’ in fraud prevention
Citibank was sued by New York Attorney General Letitia James for allegedly failing to adequately protect customers from online banking scams and refusing to reimburse victims.
The bank hasn’t put in place sufficient safety measures and security protocols to prevent fraudsters from stealing money through online and mobile banking, including by wire transfers or through payment apps including Zelle and Venmo, James said in a suit filed Tuesday in federal court.