
New York State Sues Citibank Over Account Fraud Protection
New York State's attorney general has filed a lawsuit against Citi, accusing the bank of failing to prevent scammers from stealing money from customer accounts through phishing scams. The lawsuit alleges that Citi should reimburse fraud victims for any losses and holds the bank responsible under the 1978 Electronic Fund Transfer Act. Citi's spokeswoman stated that banks are not required to reimburse customers who are victims of such fraud, but the attorney general emphasized that there is no excuse for Citi's failure to protect customers' accounts.


