Citi Replacing All Debit Cards Affected by Massive Target Breach
The fallout from the Target data breach continues.
Citi will replace every debit card that consumers may have used at Target during the time of the cyber attacks, according to the New York Times. Citi will not replace any credit cards.
The issuer is taking this step as a precautionary measure, not necessarily as a result of an increase in fraudulent activity. A company spokesperson said the bank did not take this step earlier because they did not want to disrupt holiday sales.
Citi becomes the second major issuer to make this type of move. JP Morgan Chase announced earlier that they will replace two million debit cards.
Credit and debit card information was stolen from as many as 40 million people who shopped at Target between Black Friday and December 15. Then, last Friday, the company announced that the security breach was much larger than first reported. Certain personal information was compromised on up to 70 million shoppers during November and December. The information includes names, addresses, phone numbers and email addresses. While these are two separate groups of customers, it is believed that the groups overlap, but it is still not clear to what extent.