Customers transaction accounts debit cards involved in the data breach at Target are being reissued.

21 January 2014 - Which Way To Pay

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Citibank plans to reissue all customer bank account debit cards involved in the data breach at Target

Citibank is the second major bank to reissue all customers’ transaction account debit cards since the breach at Target last month. The bank did not replace the debit cards sooner because it wanted to minimize the disruption t customers shopping over the Christmas period. The bank will start to send out the new cards soon so people can continue to use their bank accounts.

Experts say it is one of the largest thefts of bank account consumer data

Target initially said that card information from 40 million customers was stolen between late November and mid-December when its in-store network was hacked. This was revised last month to include other systems, which stored the personal data of 70 million more customers, with possible overlap, including people who may not have shopped at Target recently.

There has not been a recent surge of fraudulent activity associated with bank accounts

Citi said its decision this week was not motivated by any recent surge of fraud but was a precautionary measure. Neiman Marcus also disclosed late last week that its systems had been breached, although it has not revealed how widespread the theft was. Banks are generally responsible for charges made on stolen credit cards, but debit card users do not have the same protections and can be responsible for up to $500 in losses depending on when they report the fraud.



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