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 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 (NYSE:C) erroneously credited a client's account with $81T in what should have been a $280 transaction, a mistake that could extend regulators' scrutiny as the bank attempts to convince them that it has fixed operational issues,
A major Wall Street bank made a colossal error in 2024, when a customer whose account was due a credit of 280 bucks was accidentally sent $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
Citigroup credited a client’s account with $81 trillion (€77 trillion) 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 has mistakenly credited a client with $81trn instead of $280, exposing serious lapses in its internal transaction verification process.
Citigroup mistakenly credited a customer's account $81 trillion instead of $280 in April 2024, and multiple employees missed the mistake until it was caught by a third.
Citigroup accidentally credited an account with $81 trillion instead of $280 as it meant to before catching the error, the Financial Times reported.
No funds left Citi, which disclosed the ‘near miss’ to the Federal Reserve and the Office of the Comptroller of the Currency (OCC) (Picture: Getty) One of the US’s biggest banks accidentally ...
Citigroup, one of the largest global banks, made a major operational error last year and accidentally transferred $81 trillion into a customer's account. According to the Financial Times, the actual amount to be transferred was just $280. The details of this blunder have only now come to public knowledge.