"Citibank Faces Lawsuits for Failing to Protect Customers from Scams and Hacks"
New York Attorney General Letitia James has filed a lawsuit against Citibank, alleging that the bank failed to protect customers from hacks and scams and refused to reimburse victims, in violation of the Electronic Fund Transfer Act. The lawsuit claims that Citibank's negligence led to substantial financial losses for New York consumers, amounting to millions of dollars, and highlights inadequacies in the bank's response to fraudulent activities. Citibank has responded by stating that they closely follow all laws and regulations related to wire transfers and have taken proactive steps to safeguard clients' accounts.
