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.
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.
Another 'near miss': Citigroup mistakenly credited a customer account with $81 trillion
Citigroup mistakenly credited a customer's account with $81 trillion last year when it meant to send just $280. The payment, which took place last April, was missed by two employees but caught 90 minutes after it was posted,
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.
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 Credits Customer With $81 Trillion by Mistake
Citigroup mistakenly credited one of their customers $81 trillion when it was initially supposed to be $280. According to a report by the Financial Times, the fumble occurred last April after a payments employee and an official who monitored checks missed the error right before the transaction was cleared for processing the following day.
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 ...
Citi’s $81 trillion mixup underscores the risks of manual processes
Citigroup intended to send $280 to a customer account, but instead credited the account with $81 trillion, the Financial ...
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, ...
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 ...
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 ...