Citibank hackers expose lack of safety, regulation
Banks are often focused on old ways of stealing credit cards, instead of new computer hacks. And the government hasn't caught up with appropriate regulations.
When hackers stole personal information from Citibank customers, the bank didn't alert people right away. The bank may have been more focused on stopping people who steal physical credit cards, rather than personal information over the internet. And the government hasn't defined what responsibilities banks have to their customers when personal information has been hacked. The Takeaway talks about the situation.
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