Citigroup erroneously credited client account with $81tn in ‘near miss’
Citigroup credited a client’s account with $81tn when it meant to send only $280, an error that could hinder the bank’s attempt to persuade regulators that it has fixed long-standing operational issues.
Citigroup Mistakenly Credited Customer's Account $81 Trillion — and Multiple Employees Missed the Error
Once caught, it took the bank several hours to reverse the erroneous transaction, which occurred in April 2024
Citigroup accidentally credited a customer's account with $81 trillion
Citigroup (C) mistakenly credited $81 trillion to a customer’s account last year and took hours to reverse the transaction, The Financial Times reports. The bank was supposed to credit just $280.
Citigroup Briefly Makes Customer the Richest Person in History With Mistaken $81 Trillion Transfer
Last year, an employee at Citigroup accidentally initiated a fund transfer to a customer’s account that would have made them the wealthiest person in the history of human existence. The incident, which took place last April,
Citigroup Mistakenly Credited a Customer with $81 Trillion Instead of $280: 'Inputting Error'
An employee caught the mistake quickly, but the bank has recently made other errors that have drawn scrutiny and fines from regulators.
Citi's latest blunder: an $81 trillion 'inputting error'
No money left the bank, but the "inputting error" came amid CEO Jane Fraser's efforts to convince regulators she's fixing the bank's controls.
Citigroup Made a $81 Trillion Error: FT
Citigroup Inc. erroneously credited $81 trillion to a customer’s account instead of $280 last April before reversing the transaction hours later, according to the Financial Times. The bank called it a "near miss.
Citi bungle briefly credits client’s account with $81 trillion — instead of $280
Citigroup credited $81 trillion to a customer’s account, instead of just $280, and took hours to reverse the transaction — an embarrassing “near miss” for a bank that has struggled to fix operational issues.
Citigroup Makes (and Then Fixes) an $81 Trillion Mistake
The bank temporarily credited a customer’s account with trillions of dollars, adding to scrutiny of risk management systems after a series of errors.
Citigroup Almost Made an $81 Trillion Mistake
Citigroup accidentally moved to transfer $81 trillion to a customer. Yes, trillion. A bank employee mistakenly entered the absurdly high figure last year while trying to manually input a transfer to a client’s escrow account,
Citi mistakenly credits $81 trillion to customer account
Citigroup reported the "near miss" to the Federal Reserve and the Office of the Comptroller of the Currency, according to the Financial Times.
The $81tn ‘near miss’ at Citi
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Citigroup’s $81 trillion mistake is a warning ‘that operational risk is still a ticking time bomb in banking,’ expert says
It took three employees and several hours for Citigroup to realize it credited a customer account with $81 trillion instead ...
Stocktwits on MSN1d
Citi Reportedly Transfers $81T To Client Account Erroneously, Mistake Rectified Within Hours – Stock, Retail Stay Unswayed
Citigroup Inc (C) stock drew unwanted attention on Friday after a report said the bank incorrectly credited $81 trillion into ...
Citigroup’s $81 trillion blunder: how a ‘fat finger’ mistake was caught
Citigroup narrowly avoided what could have been one of the largest banking blunders in history after it mistakenly credited a ...
Regtechtimes on MSN10h
Trillion-Dollar Blunder: Citigroup Nearly Loses Control Over $81 Trillion
In a surprising turn of events, one of the largest banks in the world, Citigroup, made a massive financial mistake. Instead ...