Citi Accidentally Credits Client's Account With $81 Trillion Instead of $280: FT

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Citi accidentally credits client account with $81 trillion: FT

By Denise Wee | Bloomberg 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. The transfer was missed by two employees and detected by a third employee 90 minutes after it was posted, the report said. No funds left the bank, and it was disclosed as a “near miss” to the Federal Reserve and Office of the Comptroller of th…

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Citigroup Credited $81 Trillion In Account Instead Of $280 By Mistake: Report

Citigroup accidentally credited an account with $81 trillion instead of $280 as it meant to before catching the error, the Financial Times reported.

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Citi nearly makes customer richest person on earth with bogus $81 trillion payment

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.

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A Citigroup bank customer almost became multibillionaire due to an error by his financial institution.

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One Of America's Biggest Banks Almost Accidentally Deposited $81 Trillion In A Customer's Account

Citibank sign It’s only natural banks are going to make some mistakes given the number of transactions they handle on a daily basis. However, Citigroup narrowly avoided a potential catastrophe after an error almost led to a customer receiving an $81 trillion deposit instead of the $280 they were supposed to get. As things currently stand, Citigroup (which oversees Citibank) is the third-largest bank in the United States based on the value of the…

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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.