Citigroup Incorrectly Credits $81T in Client's Account in "Near Miss"

Citigroup, Inc. (C) accidentally credited a client’s account with $81 trillion when it was supposed to credit only$280. This error could delay the bank’s attempt to influence regulators that it has fixed long-standing operational issues. This was reported by the Financial Times.Details of the Citigroup ErrorThe error took place in April 2024 and was missed by two officials assigned to check the transaction before it was approved for processing. The error was detected by a third employee, working with the b ...