FBI Investigates Citigroup Breach Resulting in Millions Lost

The Wall Street Journal has said that the FBI is probing a computer security breach targeting Citigroup. The breach has resulted in the theft of tens of millions of dollars by computer hackers believed to be a Russian cyber gang.

Citigroup has denied this has happened, stating “any allegation that the FBI is working on a case at Citigroup involving a breach of Citi systems resulting in tens of millions of dollars of losses is false. There has been no breach and there have been no associated losses.”

Citigroup has however admitted that one customer’s account was drained of more than $1 million after being hacked.

“Ninety-eight percent of bank heists are now occurring virtually and not in the real world,” said Tom Kellerman, a former member of the World Bank’s Treasury Security Team.

President Obama recently referred to cyber crime as one of the “most serious economic and national security challenges we face.”