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.

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Zach Epstein has worked in and around ICT for more than a decade, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.