Inside Citi’s Hacking Fiasco

Earlier this week, we told you that hackers had infiltrated Citibank’s security system and gained the sensitive account information of more than 200,000 of their customers. What we didn’t know then was that Citigroup officials had discovered the security breach three weeks earlier and failed to notify their customers. The hackers were people who posed as customers, logged on to the site and managed to find the transaction histories of thousands of of customers. Louise Story, Wall Street and finance reporter for The New York Times says getting a handle on the international hacker rings will continue to be a major headache for major banks and the feds.