Get the latest tech news
NY attorney general files lawsuit against Citibank for failing to protect customers from online fraud
NY's attorney general files lawsuit against Citibank for allegedly failing to safeguard customers against fraud and refusing to reimburse victims.
New York Attorney General Letitia James has initiated a lawsuit against Citibank, citing the bank’s inadequate response to protecting its customers from online fraud and its refusal to reimburse those who suffered financial losses due to unauthorized transactions. The bank also reportedly failed to adequately monitor and prevent the consolidation of funds from various accounts into a single one, facilitating the rapid movement of stolen money by fraudsters. The lawsuit seeks to put an end to Citibank’s alleged deceptive practices and aims to secure compensation for victims who were denied reimbursement over the past six years, in addition to demanding penalties and disgorgement.
Or read this on ReadWrite