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February 28, 2007

Citizens issues new cards to potential fraud victims

Citizens Bank has issued new debit/credit cards to customers possibly victimized by thieves stealing information from key pad machines at Stop & Shop, according to a statement issued by the bank this afternoon.

Citizens suffered the bulk of the losses from customers targeted at the Coventry Stop & Shop, according to the police. Using a complicated scheme that involved imitation key pad machines and replicated ATM cards, thieves stole approximately $115,000 in recent weeks from about 1,100 separate bank accounts across the area. Approximately $100,000 was taken from Citizens Bank accounts.

Four men were arrested Monday night at the Coventry store.

"Immediately after the potential data compromise was identified, we proactively issued new cards to those customers who we determined to be at risk for potential fraud," reads a statement released by company spokeswoman Stacy M. Hart. "As part of policy, Citizens Bank customers are protected from fraud losses."

Hart said that bank customers need to notify the bank of any suspected illegal activity, but that the bank would cover any losses. She also encouraged customers to monitor their bank accounts for suspicious activity.

-- projo.com staff writer Steve Peoples

Posted by Steve Peoples  at 3:05 PM | Permalink

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