BANK TRANSFERS $81 TRILLION IN ERROR INSTEAD OF $280, REALIZED 90 MINUTES AFTER PAYMENT AND THEN CANCELED IT 😱😱😱
A Citigroup customer in the United States experienced a surprising incident when, instead of receiving a $280 payment, their bank account was credited with the astonishing amount of $81 trillion.
This error lasted about 90 minutes before being detected and reversed, once again raising questions about this financial institution's internal control system.
According to People magazine, this error was not detected by the two employees responsible for monitoring transactions until a third person noticed the irregularity and took corrective action.
The transfer was canceled before the customer could access the funds, thus avoiding a larger issue for the bank. However, such errors continue to raise concerns about Citigroup's ability to prevent serious mistakes in its financial system.
Recurring errors at Citigroup
This is not the first time Citigroup has encountered a major error in recent years. In 2020, the bank mistakenly transferred $893 million to creditors of cosmetics company Revlon Inc., an amount that some recipients refused to return, arguing they believed it was a legitimate payment. This incident led to a lengthy legal battle in which this financial institution had to accept responsibility for the mistake.
In 2022, another error from Citigroup caused a drop in the European market due to a mistake in a stock transaction. This situation prompted an immediate reaction from financial regulators, who penalized the bank for a lack of adequate controls.
