Citigroup
54,558 προβολές
27 άτομα συμμετέχουν στη συζήτηση
Δημοφ.
Πιο πρόσφατα
THE BANK TRANSFERS YOU $81 TRILLION BY MISTAKE — THEN TAKES IT BACK IN 90 MINUTES
Citigroup blunder raises fresh concerns over financial system controls
Imagine waking up to find your bank balance has 14 zeroes on it — $81 trillion instead of the $280 you were expecting.
That’s exactly what happened to a Citigroup customer in the U.S., in one of the most jaw-dropping financial slip-ups in recent history.
According to People Magazine, the error lasted around 90 minutes before it was caught and reversed. Initially overlooked by two employees, the mistake only came to light when a third person noticed the absurd figure. The transaction was immediately canceled before the customer could access the funds — narrowly avoiding a potential banking catastrophe.
But this isn’t just a “funny story.” It raises serious questions about how one of the world’s biggest financial institutions could allow such an error to pass through multiple layers of oversight.
---
Not Citigroup’s First Rodeo
This isn’t the first time Citi’s internal controls have failed dramatically:
In 2020, the bank accidentally sent $893 million to lenders of Revlon. Some recipients refused to return the funds, sparking a years-long legal fight.
In 2022, a Citi trader error led to a sudden plunge in European stock markets, prompting regulatory sanctions for “insufficient risk controls.”
With repeated errors of this scale, it’s clear that human oversight and system safeguards need serious upgrades — especially in a digital era where a few clicks can move billions (or trillions) in seconds.
---
Final Thought
While the customer never got to spend that imaginary $81 trillion, the incident is a stark reminder:
If banks can make mistakes at this scale, how safe is your money, really?
#BankingFails #Citigroup #FinanceNews #Write2Earn #DigitalBanking
Citigroup blunder raises fresh concerns over financial system controls
Imagine waking up to find your bank balance has 14 zeroes on it — $81 trillion instead of the $280 you were expecting.
That’s exactly what happened to a Citigroup customer in the U.S., in one of the most jaw-dropping financial slip-ups in recent history.
According to People Magazine, the error lasted around 90 minutes before it was caught and reversed. Initially overlooked by two employees, the mistake only came to light when a third person noticed the absurd figure. The transaction was immediately canceled before the customer could access the funds — narrowly avoiding a potential banking catastrophe.
But this isn’t just a “funny story.” It raises serious questions about how one of the world’s biggest financial institutions could allow such an error to pass through multiple layers of oversight.
---
Not Citigroup’s First Rodeo
This isn’t the first time Citi’s internal controls have failed dramatically:
In 2020, the bank accidentally sent $893 million to lenders of Revlon. Some recipients refused to return the funds, sparking a years-long legal fight.
In 2022, a Citi trader error led to a sudden plunge in European stock markets, prompting regulatory sanctions for “insufficient risk controls.”
With repeated errors of this scale, it’s clear that human oversight and system safeguards need serious upgrades — especially in a digital era where a few clicks can move billions (or trillions) in seconds.
---
Final Thought
While the customer never got to spend that imaginary $81 trillion, the incident is a stark reminder:
If banks can make mistakes at this scale, how safe is your money, really?
#BankingFails #Citigroup #FinanceNews #Write2Earn #DigitalBanking
U.S. Banks explore joint stablecoin initiative amid pending regulation
Several major U.S. banks, including #JPMorganChase , #BankofAmerica , #Citigroup , and #WellsFargo , are in early discussions to develop a joint #stablecoin project, according to a Wall Street Journal report. The move would be a direct challenge to the current dominance of crypto-native issuers #Circle and #Tether in the $245 billion #stablecoin market. The banks are reportedly exploring the effort through their affiliated payment companies, such as Early Warning Services and the Clearing House.
Several major U.S. banks, including #JPMorganChase , #BankofAmerica , #Citigroup , and #WellsFargo , are in early discussions to develop a joint #stablecoin project, according to a Wall Street Journal report. The move would be a direct challenge to the current dominance of crypto-native issuers #Circle and #Tether in the $245 billion #stablecoin market. The banks are reportedly exploring the effort through their affiliated payment companies, such as Early Warning Services and the Clearing House.
THE BANK TRANSFERS YOU $81 TRILLION BY MISTAKE — THEN TAKES IT BACK IN 90 MINUTES
Citigroup blunder raises fresh concerns over financial system controls
Imagine waking up to find your bank balance has 14 zeroes on it — $81 trillion instead of the $280 you were expecting. That’s exactly what happened to a Citigroup customer in the U.S., in one of the most jaw-dropping financial slip-ups in recent history.
According to People Magazine, the error lasted around 90 minutes before it was caught and reversed. Initially overlooked by two employees, the mistake only came to light when a third person noticed the absurd figure. The transaction was immediately canceled before the customer could access the funds — narrowly avoiding a potential banking catastrophe.
But this isn’t just a “funny story.” It raises serious questions about how one of the world’s biggest financial institutions could allow such an error to pass through multiple layers of oversight.
Not Citigroup’s First Rodeo
This isn’t the first time Citi’s internal controls have failed dramatically:
• In 2020, the bank accidentally sent $893 million to lenders of Revlon. Some recipients refused to return the funds, sparking a years-long legal fight.
• In 2022, a Citi trader error led to a sudden plunge in European stock markets, prompting regulatory sanctions for “insufficient risk controls.”
With repeated errors of this scale, it’s clear that human oversight and system safeguards need serious upgrades — especially in a digital era where a few clicks can move billions (or trillions) in seconds.
Final Thought
While the customer never got to spend that imaginary $81 trillion, the incident is a stark reminder: if banks can make mistakes at this scale, how safe is your money, really?
#BankingFails #Citigroup #FinanceNews #Write2Earn #DigitalBanking
Citigroup blunder raises fresh concerns over financial system controls
Imagine waking up to find your bank balance has 14 zeroes on it — $81 trillion instead of the $280 you were expecting. That’s exactly what happened to a Citigroup customer in the U.S., in one of the most jaw-dropping financial slip-ups in recent history.
According to People Magazine, the error lasted around 90 minutes before it was caught and reversed. Initially overlooked by two employees, the mistake only came to light when a third person noticed the absurd figure. The transaction was immediately canceled before the customer could access the funds — narrowly avoiding a potential banking catastrophe.
But this isn’t just a “funny story.” It raises serious questions about how one of the world’s biggest financial institutions could allow such an error to pass through multiple layers of oversight.
Not Citigroup’s First Rodeo
This isn’t the first time Citi’s internal controls have failed dramatically:
• In 2020, the bank accidentally sent $893 million to lenders of Revlon. Some recipients refused to return the funds, sparking a years-long legal fight.
• In 2022, a Citi trader error led to a sudden plunge in European stock markets, prompting regulatory sanctions for “insufficient risk controls.”
With repeated errors of this scale, it’s clear that human oversight and system safeguards need serious upgrades — especially in a digital era where a few clicks can move billions (or trillions) in seconds.
Final Thought
While the customer never got to spend that imaginary $81 trillion, the incident is a stark reminder: if banks can make mistakes at this scale, how safe is your money, really?
#BankingFails #Citigroup #FinanceNews #Write2Earn #DigitalBanking
MakkarrauM:
Olha…
A equipe do banco é bem sem-vergonha, visto erros grotescos anteriores, era dos investidores tomarem uma atitude
THE BANK TRANSFERS YOU $81 TRILLION BY MISTAKE — THEN TAKES IT BACK IN 90 MINUTES
Citigroup blunder raises fresh concerns over financial system controls
Imagine waking up to find your bank balance has 14 zeroes on it — $81 trillion instead of the $280 you were expecting. That’s exactly what happened to a Citigroup customer in the U.S., in one of the most jaw-dropping financial slip-ups in recent history.
According to People Magazine, the error lasted around 90 minutes before it was caught and reversed. Initially overlooked by two employees, the mistake only came to light when a third person noticed the absurd figure. The transaction was immediately canceled before the customer could access the funds — narrowly avoiding a potential banking catastrophe.
But this isn’t just a “funny story.” It raises serious questions about how one of the world’s biggest financial institutions could allow such an error to pass through multiple layers of oversight.
Not Citigroup’s First Rodeo
This isn’t the first time Citi’s internal controls have failed dramatically:
• In 2020, the bank accidentally sent $893 million to lenders of Revlon. Some recipients refused to return the funds, sparking a years-long legal fight.
• In 2022, a Citi trader error led to a sudden plunge in European stock markets, prompting regulatory sanctions for “insufficient risk controls.”
With repeated errors of this scale, it’s clear that human oversight and system safeguards need serious upgrades — especially in a digital era where a few clicks can move billions (or trillions) in seconds.
Final Thought
While the customer never got to spend that imaginary $81 trillion, the incident is a stark reminder: if banks can make mistakes at this scale, how safe is your money, really?
#BankingFails #CitiGroup #FinanceNewsUpdate #Write2Earn! #DigitalBanking
Citigroup blunder raises fresh concerns over financial system controls
Imagine waking up to find your bank balance has 14 zeroes on it — $81 trillion instead of the $280 you were expecting. That’s exactly what happened to a Citigroup customer in the U.S., in one of the most jaw-dropping financial slip-ups in recent history.
According to People Magazine, the error lasted around 90 minutes before it was caught and reversed. Initially overlooked by two employees, the mistake only came to light when a third person noticed the absurd figure. The transaction was immediately canceled before the customer could access the funds — narrowly avoiding a potential banking catastrophe.
But this isn’t just a “funny story.” It raises serious questions about how one of the world’s biggest financial institutions could allow such an error to pass through multiple layers of oversight.
Not Citigroup’s First Rodeo
This isn’t the first time Citi’s internal controls have failed dramatically:
• In 2020, the bank accidentally sent $893 million to lenders of Revlon. Some recipients refused to return the funds, sparking a years-long legal fight.
• In 2022, a Citi trader error led to a sudden plunge in European stock markets, prompting regulatory sanctions for “insufficient risk controls.”
With repeated errors of this scale, it’s clear that human oversight and system safeguards need serious upgrades — especially in a digital era where a few clicks can move billions (or trillions) in seconds.
Final Thought
While the customer never got to spend that imaginary $81 trillion, the incident is a stark reminder: if banks can make mistakes at this scale, how safe is your money, really?
#BankingFails #CitiGroup #FinanceNewsUpdate #Write2Earn! #DigitalBanking
IMAGINE WAKING UP TO $81 TRILLION IN YOUR BANK ACCOUNT…
…Only for it to vanish 90 minutes later.
A Citigroup customer just got “accidentally” transferred $81,000,000,000,000 instead of $280.
Yes, you read that right — 81 TRILLION DOLLARS.
The error went undetected by not one, but TWO employees… until a third finally spotted the jaw-dropping mistake and pulled the plug.
For 90 wild minutes, that account held more money than the GDP of most countries combined — but the customer never got to touch it. Citigroup reversed the transfer just in time.
This isn’t their first colossal blunder:
In 2020, they mistakenly sent $893 million to Revlon’s lenders — some never gave it back.
In 2022, a stock error triggered a shockwave in European markets.
Question is: how many more “mistakes” before something slips through?
If a bank can “accidentally” send TRILLIONS, what else is going unnoticed?
Citigroup’s control systems are under fire — again.
And this story? It’s not just shocking. It’s a warning.
A Citigroup customer just got “accidentally” transferred $81,000,000,000,000 instead of $280.
Yes, you read that right — 81 TRILLION DOLLARS.
The error went undetected by not one, but TWO employees… until a third finally spotted the jaw-dropping mistake and pulled the plug.
For 90 wild minutes, that account held more money than the GDP of most countries combined — but the customer never got to touch it. Citigroup reversed the transfer just in time.
This isn’t their first colossal blunder:
In 2020, they mistakenly sent $893 million to Revlon’s lenders — some never gave it back.
In 2022, a stock error triggered a shockwave in European markets.
Question is: how many more “mistakes” before something slips through?
If a bank can “accidentally” send TRILLIONS, what else is going unnoticed?
Citigroup’s control systems are under fire — again.
And this story? It’s not just shocking. It’s a warning.
Principales bancos de EE.UU. consideran crear stablecoin conjunta para contrarrestar la competencia de criptomonedas
Investing.com — Algunos de los bancos más grandes de Estados Unidos, incluyendo JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), Citigroup y Wells Fargo (NYSE:WFC), están manteniendo conversaciones preliminares sobre la emisión de una stablecoin conjunta, según informó el Wall Street Journal el viernes.
Esta medida se considera un intento de contrarrestar la creciente competencia de la industria de las criptomonedas.
#JPMorgan
#BankOfAmerica
#CitiGroup
#WellsFargo
#BinanceHODLerHAEDAL
Investing.com — Algunos de los bancos más grandes de Estados Unidos, incluyendo JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), Citigroup y Wells Fargo (NYSE:WFC), están manteniendo conversaciones preliminares sobre la emisión de una stablecoin conjunta, según informó el Wall Street Journal el viernes.
Esta medida se considera un intento de contrarrestar la creciente competencia de la industria de las criptomonedas.
#JPMorgan
#BankOfAmerica
#CitiGroup
#WellsFargo
#BinanceHODLerHAEDAL
It looks like you’re checking data for $CITY /USDT — a fan token — likely on Binance or a similar exchange. Here's a quick breakdown of the key data you’ve shared:
---
Current Price:
$1.093 (+9.30% today)
---
24h Range:
High: $1.236
Low: $0.964
---
Volume (24h):
$CITY tokens: 4.39M
USDT: 4.92M
$CITY
---
Technical Indicators:
MA(5): 859,271.58
MA(10): 499,425.35
MACD / RSI / BOLL / EMA / SAR etc. mentioned – you might be using them for technical analysis.
---
Performance:
Today: +8.97%
7 Days: +0.09%
30 Days: +6.22%
90 Days: -40.53%
180 Days: -49.30%
1 Year: -73.50%
---
This shows a short-term bullish movement, but long-term trend is bearish. If you’re planning to trade this token, you might want to consider your risk tolerance and market timing, especially since fan tokens can be highly volatile and news-driven.
#RiskRewardRatio #CitizenConflict #CitiGroup #city #city之前叫你们埋伏足球币不信
---
Current Price:
$1.093 (+9.30% today)
---
24h Range:
High: $1.236
Low: $0.964
---
Volume (24h):
$CITY tokens: 4.39M
USDT: 4.92M
$CITY
---
Technical Indicators:
MA(5): 859,271.58
MA(10): 499,425.35
MACD / RSI / BOLL / EMA / SAR etc. mentioned – you might be using them for technical analysis.
---
Performance:
Today: +8.97%
7 Days: +0.09%
30 Days: +6.22%
90 Days: -40.53%
180 Days: -49.30%
1 Year: -73.50%
---
This shows a short-term bullish movement, but long-term trend is bearish. If you’re planning to trade this token, you might want to consider your risk tolerance and market timing, especially since fan tokens can be highly volatile and news-driven.
#RiskRewardRatio #CitizenConflict #CitiGroup #city #city之前叫你们埋伏足球币不信
🚨 $6 Trillion! The 4th largest U.S. bank 🇺🇸, Citibank, enters the world of #Bitcoin and crypto custody.
Banks are going all in! 🚀
#BinanceAirdropAlert #BTC #CitiGroup #citibank $BTC
Banks are going all in! 🚀
#BinanceAirdropAlert #BTC #CitiGroup #citibank $BTC
Thank god it is not in #Crypto 🙏
#CitiGroup , third-largest US bank, accidentally sent a customer $81 trillion ($81,000,000,000,000) instead of $280.
$ADA $SOL $BNB
#CitiGroup , third-largest US bank, accidentally sent a customer $81 trillion ($81,000,000,000,000) instead of $280.
$ADA $SOL $BNB
🚨 BIGGEST BANK ERROR EVER?! 🚨
Citigroup, the third-largest US bank, accidentally sent $81 TRILLION instead of $280 to a customer. 😳💰
That’s more than the global GDP! How does a mistake like this even happen?! 🤯
#CitiGroup #BankError #BreakingNews
Citigroup, the third-largest US bank, accidentally sent $81 TRILLION instead of $280 to a customer. 😳💰
That’s more than the global GDP! How does a mistake like this even happen?! 🤯
#CitiGroup #BankError #BreakingNews
🚨Exclusive💥
#CitiGroup 🏦the third-largest bank in the United States by #assets ,is considering expanding into #crypto custody.
#Write2Earn #AssetProtection
#CitiGroup 🏦the third-largest bank in the United States by #assets ,is considering expanding into #crypto custody.
#Write2Earn #AssetProtection
Citigroup Forecasts Stablecoin Supply Could Reach $3.7 Trillion by 2030
Citigroup projects stablecoin supply may grow to $1.6 trillion in a base-case and up to $3.7 trillion in a bullish scenario by 2030, urging banks to adapt via custodial, treasury-asset, and issuance services amid rising adoption and regulatory clarity
.
#Writetoearn
#CitiGroup
Citigroup projects stablecoin supply may grow to $1.6 trillion in a base-case and up to $3.7 trillion in a bullish scenario by 2030, urging banks to adapt via custodial, treasury-asset, and issuance services amid rising adoption and regulatory clarity
.
#Writetoearn
#CitiGroup
#Citigroup Forecasts Stablecoin Supply Could Reach $3.7 Trillion by 2030
#Citigroup projects stablecoin supply may grow to $1.6 trillion in a base-case and up to $3.7 trillion in a bullish scenario by 2030, urging banks to adapt via custodial, treasury-asset, and issuance services amid rising adoption and regulatory clarity.$BTC
#Citigroup projects stablecoin supply may grow to $1.6 trillion in a base-case and up to $3.7 trillion in a bullish scenario by 2030, urging banks to adapt via custodial, treasury-asset, and issuance services amid rising adoption and regulatory clarity.$BTC
Startup founded by former Citigroup executives to launch XRP-backed securities
Receipts Depositary Corp. #RDC , a start-up founded by former #Citigroup executives, is set to launch #XRP -backed securities. The new offering will provide institutions with access to $XRP through U.S. regulated market infrastructure. RDC, which already offers bitcoin and ether-backed securities, plans to use depositary receipts similar to American depositary receipts (ADRs) for foreign stocks. These securities will be available to qualified institutional buyers in exempt transactions, bypassing SEC approval.
Receipts Depositary Corp. #RDC , a start-up founded by former #Citigroup executives, is set to launch #XRP -backed securities. The new offering will provide institutions with access to $XRP through U.S. regulated market infrastructure. RDC, which already offers bitcoin and ether-backed securities, plans to use depositary receipts similar to American depositary receipts (ADRs) for foreign stocks. These securities will be available to qualified institutional buyers in exempt transactions, bypassing SEC approval.
Citigroup Downgrades U.S. Stocks Amid Global Risks
Citigroup strategists have lowered their U.S. equity rating from overweight to neutral, citing:
· Erosion of U.S. "exceptionalism" in GDP & earnings growth
· Elevated market valuations amid worsening EPS revisions
· Rising risks from European fiscal policies and trade tensions
Key Insight: The shift reflects growing preference for non-U.S. markets as diversification gains urgency.
#Stocks #Market s #Investing #Economy #Citigroup
Citigroup strategists have lowered their U.S. equity rating from overweight to neutral, citing:
· Erosion of U.S. "exceptionalism" in GDP & earnings growth
· Elevated market valuations amid worsening EPS revisions
· Rising risks from European fiscal policies and trade tensions
Key Insight: The shift reflects growing preference for non-U.S. markets as diversification gains urgency.
#Stocks #Market s #Investing #Economy #Citigroup
☄️ÚLTIMA HORA: ARK Invest actualiza su predicción de precio para 2030 #Bitcoin a 2,4 millones de dólares 🚀
🚨LAS RESERVAS DE LAS BOLSAS DE INTERCAMBIO DE BITCOIN ESTÁN CAYENDO A NIVELES SIN PRECEDENTES.
¡SE ACERCA UN CHOQUE DE SUMINISTRO! 🔥
🔥 ALCISTA: Citigroup proyecta un mercado alcista de $3,7 billones para las monedas estables para 2030.
#CitiGroup #citibank #BTC #Stablecoins #MarketRebound $BTC $USDC
🚨LAS RESERVAS DE LAS BOLSAS DE INTERCAMBIO DE BITCOIN ESTÁN CAYENDO A NIVELES SIN PRECEDENTES.
¡SE ACERCA UN CHOQUE DE SUMINISTRO! 🔥
🔥 ALCISTA: Citigroup proyecta un mercado alcista de $3,7 billones para las monedas estables para 2030.
#CitiGroup #citibank #BTC #Stablecoins #MarketRebound $BTC $USDC
Citigroup y SIX Group AG colaboran para modernizar el acceso a mercados privados.
Para aumentar el acceso a los mercados privados, Citigroup presentó una asociación con la bolsa suiza SIX Group AG. El propósito de esta colaboración es hacer más sencillos y digitales los procesos de liquidación y custodia de activos en mercados privados, que han sido, históricamente, muy manuales. Según un comunicado oficial mencionado por Bloomberg, esta iniciativa permitirá que Citigroup use la plataforma de SDX, que es la división de activos digitales de SIX. Gracias a esta plataforma, ofrecerán acciones de empresas en fases avanzadas de crecimiento y antes de su Oferta Pública Inicial (OPI). Se anticipa que esta oferta estará disponible a partir del tercer trimestre de 2025. Esta iniciativa tiene el potencial de ser un hito importante en la ampliación del acceso a inversiones privadas. Marni McManus, responsable de Citigroup en Suiza, Mónaco y Liechtenstein, subrayó la importancia de esta colaboración. Ella señaló que esta asociación facilitará la "simplificación y digitalización de lo que hoy es una industria predominantemente manual y en papel". Esta transición a lo digital promete acortar considerablemente los tiempos de ejecución en las transacciones y mejorar la eficiencia en la gestión de activos. Así, el acceso a los mercados privados podría evolucionar hacia una etapa completamente nueva. Es importante mencionar que la distribución de estas acciones previas a la OPI se realizará a través de dos socios estratégicos: Sygnum Bank AG, un banco de activos digitales, y SBI Digital Markets, un corredor de bolsa situado en Singapur.
🚨 JUST BREAKING NEWS 🚨
💰 Citigroup, the third-largest U.S. bank, made a massive error—accidentally transferring $81 TRILLION ($81,000,000,000,000) instead of just $280 to a customer! 😱🏦
🔄 The bank has since reversed the transaction, but this is one of the biggest banking blunders ever!
📉 What would you do if this showed up in your account? 🤯💸
#CitiGroup #BankingFail #FinanceNewsUpdate
💰 Citigroup, the third-largest U.S. bank, made a massive error—accidentally transferring $81 TRILLION ($81,000,000,000,000) instead of just $280 to a customer! 😱🏦
🔄 The bank has since reversed the transaction, but this is one of the biggest banking blunders ever!
📉 What would you do if this showed up in your account? 🤯💸
#CitiGroup #BankingFail #FinanceNewsUpdate
🚨 JPMorgan & Citigroup Allegedly Processed $5 Billion in
Russian Transactions to Bypass Sanctions
$USDC
According to a recent Wall Street Journal report, Russia allegedly moved $5 billion through JPMorgan Chase and Citigroup in a strategic attempt to evade U.S. sanctions. The transactions, believed to have been processed through a state-controlled bank, were reportedly disguised as funding for a nuclear energy project in Turkey.
The Alleged Transfer Mechanism
Investigations by the U.S. Department of Justice (DOJ) suggest that Russia utilized unsanctioned entities, including Gazprombank—a state-owned financial institution that enables European nations to import fuel from Russia. The bank allegedly funneled $3 billion through Citibank and $2 billion through JPMorgan, aiming to establish an offshore dollar fund at Turkey’s state-owned Ziraat Bank.
The substantial payments raised red flags at the DOJ, leading to the blocking and freezing of the $2 billion transfer via JPMorgan. In response, the DOJ filed a civil forfeiture case last year to seize the frozen assets. However, reports suggest the White House intervened, urging the DOJ to hold back, considering the geopolitical significance of Turkey’s role in the Middle East and its relations with the U.S.
Implications & Legal Standpoint
Despite the controversy, the DOJ has clarified that JPMorgan and Citigroup are not under investigation for any wrongdoing in processing these transactions. Instead, the case highlights the challenges in enforcing international financial sanctions and the complexity of global banking networks when handling high-value transfers involving state-controlled entities.
The situation underscores the evolving dynamics of sanctions enforcement, geopolitical tensions, and the role of major financial institutions in international transactions.
📢 Stay updated for more breaking financial news! 🚀 #Sanctions #JPMorgan #Citigroup #Crypto #Banking
Russian Transactions to Bypass Sanctions
$USDC
According to a recent Wall Street Journal report, Russia allegedly moved $5 billion through JPMorgan Chase and Citigroup in a strategic attempt to evade U.S. sanctions. The transactions, believed to have been processed through a state-controlled bank, were reportedly disguised as funding for a nuclear energy project in Turkey.
The Alleged Transfer Mechanism
Investigations by the U.S. Department of Justice (DOJ) suggest that Russia utilized unsanctioned entities, including Gazprombank—a state-owned financial institution that enables European nations to import fuel from Russia. The bank allegedly funneled $3 billion through Citibank and $2 billion through JPMorgan, aiming to establish an offshore dollar fund at Turkey’s state-owned Ziraat Bank.
The substantial payments raised red flags at the DOJ, leading to the blocking and freezing of the $2 billion transfer via JPMorgan. In response, the DOJ filed a civil forfeiture case last year to seize the frozen assets. However, reports suggest the White House intervened, urging the DOJ to hold back, considering the geopolitical significance of Turkey’s role in the Middle East and its relations with the U.S.
Implications & Legal Standpoint
Despite the controversy, the DOJ has clarified that JPMorgan and Citigroup are not under investigation for any wrongdoing in processing these transactions. Instead, the case highlights the challenges in enforcing international financial sanctions and the complexity of global banking networks when handling high-value transfers involving state-controlled entities.
The situation underscores the evolving dynamics of sanctions enforcement, geopolitical tensions, and the role of major financial institutions in international transactions.
📢 Stay updated for more breaking financial news! 🚀 #Sanctions #JPMorgan #Citigroup #Crypto #Banking
⚡️Криптобиржа #Gemini конфиденциально подала заявку на #IPO — компания сотрудничает с крупнейшими инвестиционными банками #GoldmanSachs и #Citigroup .
$SOL $BNB $XRP
$SOL $BNB $XRP
Συνδεθείτε για να εξερευνήσετε περισσότερα περιεχόμενα