Citigroup erroneously credited client account with $81tn in ‘near miss’

Posted by NeolibsLoveBeans

6 Comments

  1. Used_Maybe1299 on

    >Citigroup credited a client’s account with $81tn when it meant to send only $280

    Honest mistake, happens all the time.

  2. boardatwork1111 on

    Hate when you’re trying to type in $280 but fat finger $81,000,000,000,000 instead. Happens to the best of us

  3. > A total of 10 near misses — incidents when a bank processes the wrong amount but is ultimately able to recover the funds — of $1bn or greater occurred at Citi last year, according to an internal report seen by the FT. The figure was down slightly from 13 the previous year.

    This is the crazy part to me, this type of situation should be very rare for any bank. Just fix the interface that causes it! Or don’t allow your employees to transfer amounts that large to client accounts!

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