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Citigroup denies huge cyber theft occurred

New York -- A Citigroup Inc. security director has denied the FBI was investigating a computer breach in which Russian thieves allegedly stole tens of millions of dollars.

The Wall Street Journal reported the FBI was investigating computer hackers involving a case at Citigroup, a government agency and one other computer network.
Joe Petro, managing director of Citigroup's Security and Investigative services said, "We had no breach of the system and there were no losses -- no customer losses, no bank losses."

"Any allegation that the FBI is working a case at Citigroup involving tens of millions of losses is just not true," he said, The Huffington Post reported Tuesday.

The Journal said the cyber-thieves breached Citigroup's computer system during the summer and possibly a year before that.

President Barack Obama is expected to a name Howard Schmidt, formerly of Microsoft Corp. and eBay, as coordinator of the government's cyber security efforts, the Huffington Post reported.

Copyright 2009 by United Press International.

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