Citi Accidentally Credits Client's Account With $81 Trillion Instead of $280: FT
- Citigroup accidentally credited $81 trillion to a customer's account instead of $280 due to a "fat finger" error, according to the Financial Times.
- The error was noted by a third employee an hour and a half after the transaction was processed.
- Citigroup successfully reversed the incorrect transaction, and no funds left the bank.
- The incident highlights ongoing operational issues, with Citigroup previously fined $400 million and also experiencing multiple similar errors in recent years.
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Major overpay: Citigroup almost gave $6B to wealth account, more than 1,000 times what was owed
In April, Citigroup made two very costly near-miss overpays that were subsequently reversed, accidentally transferring $6 billion to a wealth account and $81 trillion to another client.
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Leaning Left16Leaning Right14Center15Last UpdatedBias Distribution36% Left
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