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,
Citigroup mistakenly credited a customer account with $81 trillion
Citigroup erroneously credited $81 trillion, instead of $280, to a customer’s account and took hours to reverse the transaction, a “near miss” that shows up the bank’s operational issues it has sought to fix,
Citi mistakenly credits $81 trillion to customer’s bank account
(CNN) – Citigroup made a costly error before reversing course. The bank accidentally credited a customer’s account with $81 trillion instead of $280. It quickly reversed the transaction within a few hours. CBS News reports this happened last April.
Citigroup Mistakenly Transfers $81 Trillion Instead of $280 to Client in Major Banking Error
Citigroup has mistakenly credited a client with $81trn instead of $280, exposing serious lapses in its internal transaction verification process.
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,
Citi Accidentally Credits Client Account With $81 Trillion: 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.
Citi’s $81 trillion mixup underscores the risks of manual accounting
Top accounting talent remains essential in the financial services industry. And a "near miss" that almost cost Citigroup ...
Citigroup Erroneously Credits $81 Trillion To Customer’s Account, Highlighting Years Of Operational Failures
Citigroup’s $81 trillion error highlights ongoing struggles to fix operational issues as regulatory pressure on the bank ...
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 ...
A $280 transfer turns into $81 trillion because of bank error
The Financial Times reports Citigroup was supposed to credit a client’s account with a $280 transfer. Somehow it turned into ...
An $81 Trillion Banking Blunder at Citigroup
Citigroup’s latest $81 trillion blunder is a sad reminder of just how vulnerable even the world’s largest financial players ...
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 ...
Citigroup’s $81 trillion transaction error raises compliance concerns
Citigroup's $81 trillion mistake sparks concerns over operational controls and regulatory oversight, prompting investments in upgrades.
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 ...