US bank meant to send $280 but no funds were transferred despite ‘fat finger’ mistakeThe US bank Citigroup credited a client’s account with $81tn when it meant to send $280 – before the “fat finger” error was caught.The mistake was spotted only after two employees had missed it, and a third employee rectified it 90 minutes after it was posted, the Financial Times reported. No funds left the bank. Continue reading...
Citigroup accidentally credited a client's account with $81tn instead of $280 due to a "fat finger" error. The mistake was not detected for 90 minutes, as two employees failed to notice it, but was later corrected by a third employee. The bank noted that such a massive transaction would not have been executable. This incident highlights Citigroup's history of similar errors, including legal battles and the departure of former CEO Michael Corbat.
