New York sues Citibank for alleged failure to reimburse fraud victims

[Gunnar Larson]

https://www.cnbc.com/2024/01/30/new-york-sues-citibank-for-alleged-failure-to-reimburse-fraud-victims.html


New York Attorney General Letitia James on Tuesday sued Citibank for
allegedly failing to protect and reimburse victims of electronic fraud.

The suit claims that Citi does not have strong protections in place to
prevent unauthorized account takeovers, misleads victims of fraud and
illegally denies reimbursements, according to a release. The attorney
general's office said the alleged failure on Citi's part has cost New York
account holders millions of dollars, and in some cases, their entire life
savings.
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