Core Viewpoint - Citibank mistakenly credited a client with $81 trillion instead of the intended $280, highlighting significant operational risks within the banking sector [1][4][5]. Group 1: Incident Details - The erroneous internal transfer occurred in April of the previous year and had not been reported until now [4]. - Two employees failed to catch the mistake, and a third employee identified the issue 90 minutes after the transfer was completed [2][5]. - The transaction was reversed within a few hours, and no funds left the bank [5]. Group 2: Implications and Comparisons - The $81 trillion amount is extraordinarily large, enough to acquire the entire U.S. stock market, which has a total market value of approximately $64 trillion [5]. - This incident is considered one of the largest "fat finger" errors in history, where incorrect data entry leads to significant mistakes [5]. - Citibank reported this incident to the Federal Reserve and the Office of the Comptroller of the Currency (OCC), emphasizing the need for vigilance regarding operational risks [5]. Group 3: Historical Context - This is not the first time Citibank has faced issues with erroneous transfers; the bank reported 10 incidents involving amounts over $1 billion last year, a slight decrease from 13 the previous year [5]. - In a previous incident, Citibank mistakenly transferred $9 billion to Revlon, which took two years to recover [8][9].