Citigroup (C) Denies FBI Probing a Potential Computer Hack

The FBI is investigating an attack by hackers that has led to the theft of tens of millions of dollars from Citigroup Inc. (NYSE: C), according to a report by the Wall Street Journal on Tuesday.

The Journal reported that a Russian cyber gang attacked the computer system at Citigroup. The group also went after two other computer systems, of which at least one was connected to a U.S. government agency.

Citigroup has denied the allegations saying, "We had no breach of the system and there were no losses, no customer losses, no bank losses," Joe Petro, managing director of Citigroup's Security and Investigative services stated. "Any allegation that the FBI is working a case at Citigroup involving tens of millions of losses is just not true."

The report from the Journal cited anonymous government officials.

The attack was detected during the summer but may have taken place up to one year earlier. According to the report Citigroup is working in connection with various government agencies to investigate the cyber crime.

The government under the Obama administration has made the prevention of cyber attacks a top priority. The President is expected to announce the appointment of former Microsoft Corp. (NASDAQ: MSFT) and eBay Inc. (NASDAQ: EBAY) executive, Howard A. Schmidt as the government’s cyber security coordinator.

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