TOKYO -- Japan's financial regulator on Friday reprimanded the Japanese banking affiliate of Citibank NA after a shipment containing data on nearly 125,000 ATM, credit card and investment transactions was lost during transit to the bank's data center in Singapore.
The Financial Services Agency said the Citibank affiliate took about one month to inform customers that it had lost data on 123,690 transactions and took too long to notify the agency.
The FSA demanded that Citibank submit a plan by July 12 to prevent a recurrence, improve its handling of customer information and notify customers of any leaks sooner, an FSA statement said. Until a plan is in effect, the bank must file reports every three months to regulators, it said.
Citibank, which is owned by Citigroup of the United States, said it would tighten management controls for customer data and take other measures to prevent another leak.
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