CorporateAllegation that FBI working on co's case false: Citi
Troubled financial services firm Citigroup has said that any allegation that the Federal Bureau of Investigation (FBI) is working on a case involving breach of the company"s systems resulting in millions of dollars losses is false.
- TARP repayments don"t hurt bank lendings: Geithner - Original visa application form of Headley "retrieved" - US Treasury stops plan to sell Citi shares: report - Wall Street fat cats see frugal compensation diet in "09 - India cancels visas of Headley, Rana - Indian consulate denies "missing" of visa papers of Headley
"Any allegation that the FBI is working on a case at Citigroup involving breach of Citi systems resulting in tens of millions of dollars losses is false. There has been no breach and there have been no associated losses," The Wall Street Journal said citing the company"s statement.
The moves came after The Wall Street Journal reported that the FBI is probing a computer-security breach aimed at accounts of the company"s Citibank unit.
According to the publication, it couldn"t be learned how funds were stolen, whether through Citibank"s systems or by other means. The breach could have involved a contractor that processes transactions for the US financial institution. Investigators suspect that the theft was conducted by a well-known Russian cyber gang.
The report quoted Citi as saying, "Occasionally, as with virtually all financial institutions, there are instances of fraud or breaches of third-party systems that result in our taking actions to protect our customers and Citi.
"However, contrary to the Wall Street Journal report, there has been no breach of Citi"s systems."