New York Attorney General Letitia James today sued Citibank, N.A. (Citi) for failing to protect and refusing to reimburse victims of fraud.
The lawsuit alleges that Citi does not implement strong online protections to stop unauthorized account takeovers, misleads account holders about their rights after their accounts are hacked and funds are stolen, and illegally denies reimbursement to victims of fraud.
The Office of the Attorney General (OAG) has found that the bank fails to respond to fraudulent activity appropriately and quickly. As a result of Citi’s lax security, New York customers have lost millions of dollars, and in some instances, their entire lifesavings, to scammers and hackers.
Attorney General James is seeking to hold Citi accountable for failing to protect its customers and require the company to pay back defrauded…
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