81 trillion dollars instead of $ 280 – for this amount the transfer was amused, which was mistakenly posted by the Citi Bank. The error was noticed after an hour and a half, and it took a few hours.
According to the Financial Times, citing, among others, two people with knowledge of the event, the situation took place in one of Fridays in April 2024. The error in the transfer was overlooked by a payment employee and another set to check the transaction before approval for further processing.
The third employee detected an error of one and a half hours after the payment was processed, and the transaction was finally withdrawn a few hours later – he said “FT”. At the same time, it was stated that no funds left Citi.
In a statement sent to the Reuters Citi agency, he announced that his meticulous controls quickly identified the error of entering data between two accounts and withdrew the entry, adding that the incident had no influence on the bank or the customer.
Recurring problem
According to the internal report, which “FT” reached, last year in Citi there were 10 such events worth $ 1 billion or more. For comparison, in 2023 there were 13 of them. Citi refused to comment for “FT” about this report.
The error in the transfers in Citi also occurred in 2020. At that time, the bank as a result of the “operational error” transferred $ 900 million to creditors of the Revlon cosmetics company. A significant part of them was quickly recovered, but in the case of $ 176 million, which went to the Brigade Capital fund, Citi took court.
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