JPMorgan Chase, Citibank among banks issuing new cards after massive security breach
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JPMorgan Chase Replacing Cards
YONKERS - Banks are sending new cards to millions of customers after a massive security breach left customer accounts vulnerable.
The security breach is connected with the massive hack over the holidays that affected stores including Target and Neiman Marcus. The hack affected as many as 110 million customers at Target.
JPMorgan Chase announced last week that 2 million of its customers are getting new credit and debit cards in the wake of the breach. Until the cards are replaced, Chase is limiting cash withdrawals to $100 and capping debit purchases at $300 a day.
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Citibank, Bank of America and Wells Fargo say they're also reissuing cards that they believe are at risk of fraud.
Cyberfraud experts believe the Russian mob could be behind the cyberattacks because part of the code used in the breach was written in Russian. A security firm is now reporting that a 17 year-old from Russia created the software that allowed a massive security breach.
Security experts say the threat isn't over and that there are other retailers that may not even know they've been hacked yet. They are recommending that consumers call their bank if they are worried about their accounts and to keep an eye on your statements.