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 $81 trillion.
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.
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 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 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 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 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.
Citibank makes an $81 trillion error. What we know
The financial mistake was corrected after it was caused by what a company spokesperson called an “inputting error."
Citi Copy-Paste Error Almost Sent $6 Billion to Wealth Account
Citigroup Inc. almost shifted about $6 billion to a customer’s account by accident after a staffer handling the transfer copied and pasted the account number into a field for the dollar figure.
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 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 ...
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 Almost Made an $81 Trillion Mistake
Citigroup accidentally moved to transfer $81 trillion to a customer. Yes, trillion. A bank employee mistakenly entered the ...
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 ...
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 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 ...
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Citigroup employee's typo nearly led to $81 trillion blunder. Details here
The payment was initially overlooked by two employees before a third employee caught it. Citi later reported the incident as ...