Tuesday, June 28, 2011

What Now? 

Citigroup announced that hackers stole millions from customer accounts in May.  The bank said that customers would be made whole, but that doesn't solve the reputational issue.  If a bank isn't secure, then what is?  A mattress might be safer.  Citigroup can't let this happen again if it wants to maintain its reputation as a consumer bank.  It is not as if a gunman walked into a local branch and held up the tellers.  Citigroup left an open and unguarded door into its vault.  Customers can ask justifiably how many other doors has Citigroup left unsecured.  It's a PR issue that will only go away in time, if there are no other incursions like the one in May.  


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