Citigroup hackers stole $2.7 million in recent breach

By on June 27, 2011 at 6:50 PM.

Citigroup hackers stole $2.7 million in recent breach

A recent online security breach involving the left of 360,000 credit card numbers will cost Citigroup $2.7 million, the company confirmed to U.S. government officials on Monday. Hackers infiltrated Citigroup servers last month and stole account numbers and personal information associated with over 360,000 Citi-branded credit cards. According to Citigroup, personal information and card numbers from approximately 3,400 cardholders was subsequently used to make about $2.7 million in unauthorized purchases. Citigroup stated that affected customers would be reimbursed for the fraudulent charges. No arrests have been made in association with the breach. More →

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Citibank: Apple’s App Store will generate $2 billion in 2011

By on December 31, 2010 at 11:31 AM.

Citibank: Apple’s App Store will generate $2 billion in 2011

Apple’s App Store has been a driving force behind the revitalized app economy ever since it first launched. According to Citibank, the App Store’s dominance won’t be slowing down anytime soon. In its U.S. Internet Stock 2011 Playbook, Citibank estimates that Apple will pull in up to $2 billion in gross revenue next year via the App Store. And if research firm Gartner’s forecasts are accurate, that number could be low. Gartner believes the global app market in 2010 totaled $4 billion, and that revenues will climb to a staggering $27 billion over the next two years. The growing popularity of smartphones is obviously seen as a major contributing factor to the exploding app market. According to Citibank, smartphone sales grew 53% in 2010 — though growth is expected to slow in 2011 to 29%. More →

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