Citi Denies Theft Report, Says Accounts Are Safe

Citigroup Inc. (C) denied a report in The Wall Street Journal that federal authorities are investigating the theft of tens of millions of dollars from customer accounts by hackers, and sought to reassure clients that their funds are safe.

The New York financial company sent employees in U.S. bank branches a memo to help respond to questions. The moves came after The Wall Street Journal reported that the Federal Bureau of Investigation is probing a computer-security breach aimed at accounts of the company’s Citibank unit.

It couldn’t be learned how funds were stolen, whether through Citibank’s systems or by other means. The breach could have involved a contractor that processes transactions for the U.S. financial institution. Investigators suspect that the theft was conducted by a well-known Russian cyber gang.

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