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Citibank draws cashflow conspiracy chatter after drop in ATM limits
January 9, 2008
Computerworld:A Citibank spokesman dismissed suggestions in the blogosphere that a recent decision by the company to quietlyreduce the daily ATM cash-withdrawal limitsof some of its customers had something to do with Citibank's cash-reserve position. Rather, the move was a precautionary one prompted by fraudulent ATM activity in metropolitan New York, said Robert Julavits, a spokesman for the bank. Citibank's new caps on ATM withdrawals for some of its customers started in mid-December but came to light only last week after New York's Daily News published a story on it. Since then, the only official explanation from the company has been in the form of a brief two-paragraph statement that said Citibank had "temporarily lowered ATM withdrawal limits on a small population of customers" because of "isolated fraudulent activity." The relatively sparse information from Citibank so far appears to be stoking some concern among blog posters.
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