A recent internal error at Citigroup led to a massive credit of $81 trillion to a customer’s account instead of the intended $280. The mistake occurred in April 2024 and was missed by multiple employees, with one employee catching it nearly two hours after it was posted. The bank promptly reversed the transaction, citing its “detective controls,” which identified the inputting error between two accounts. This incident is not the first time Citigroup has faced issues with large-scale mistakes, including a 2022 stock sell-off and last year’s £62 million fine from British regulators.
Source: https://people.com/citigroup-mistakenly-credited-customer-account-usd81-trillion-instead-of-usd280-11688468