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.