Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Bank accidentally credits customer with $81 trillion instead of $280
The Telegraph ^ | Feb 28, 2025 | Louis Goss

Posted on 02/28/2025 12:01:51 PM PST by where's_the_Outrage?

One of America’s biggest banks accidentally transferred more than $80 trillion (£64 trillion) to a customer’s account after a “fat finger” input error by an employee.

Citigroup, one of America’s “big four” lenders, erroneously transferred $81 trillion to the account in April last year instead of the $280 requested because of a keyboard mistake by a bank staffer.

The huge sum, worth more than 20 times Britain’s entire gross domestic product (GDP), was approved after being checked by two of the bank’s employees, before being sent to the customer account the following morning.

The payment was only flagged after a third employee noticed a problem with the Wall Street giant’s overall balances, 90 minutes after the payment between two separate Citi accounts had been made, the Financial Times reported.

Citi successfully reversed the transaction a few hours later, with no funds actually leaving the lender’s coffers, as the $81 trillion transaction was between two of the bank’s own accounts.

A Citi spokesman said: “Our detective controls promptly identified the inputting error between two Citi ledger accounts and we reversed the entry. Our preventative controls would have also stopped any funds leaving the bank.”

(Excerpt) Read more at msn.com ...


TOPICS: Business/Economy; Chit/Chat; Computers/Internet
KEYWORDS: 81trillion; bankmistake; citibank
Navigation: use the links below to view more comments.
first 1-2021-4041-53 next last
Understand the CBO wants to hire the clerk to help with congressional spending.

Lousy programming oversight, the system should never had allowed the entry.

1 posted on 02/28/2025 12:01:51 PM PST by where's_the_Outrage?
[ Post Reply | Private Reply | View Replies]

To: where's_the_Outrage?

What’s 10 extra 0’s between friends?


2 posted on 02/28/2025 12:03:38 PM PST by BBQToadRibs2
[ Post Reply | Private Reply | To 1 | View Replies]

To: where's_the_Outrage?

Sorry, too late!


3 posted on 02/28/2025 12:03:45 PM PST by reasonisfaith (What are the personal implications if the Resurrection of Christ is a true event in history?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: where's_the_Outrage?

Oh my a new tax bracket


4 posted on 02/28/2025 12:05:01 PM PST by butlerweave
[ Post Reply | Private Reply | To 1 | View Replies]

To: where's_the_Outrage?
“fat finger” input error

I do that all the time. I think I'm typing:
$81,000,000,000,000

And instead I stupidly type:
$280

5 posted on 02/28/2025 12:05:08 PM PST by ClearCase_guy
[ Post Reply | Private Reply | To 1 | View Replies]

To: where's_the_Outrage?

I never make these lists.


6 posted on 02/28/2025 12:05:47 PM PST by GaltMeister (All that is necessary for the triumph of evil is that good men do nothing.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: where's_the_Outrage?

Wait the bank had $80 trillion (£64 trillion) to cover it ? LOL


7 posted on 02/28/2025 12:06:15 PM PST by butlerweave
[ Post Reply | Private Reply | To 1 | View Replies]

To: where's_the_Outrage?

He of course should be made to give the money back, but should at least get to keep the interest accrued on it.


8 posted on 02/28/2025 12:06:34 PM PST by Sirius Lee ("Never argue with a fool, onlookers may not be able to tell the difference.”)
[ Post Reply | Private Reply | To 1 | View Replies]

To: where's_the_Outrage?

9 posted on 02/28/2025 12:07:13 PM PST by dfwgator (Endut! Hoch Hech!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: where's_the_Outrage?

Yeah, really. That wasn’t all supposed to go into the Biden family account!


10 posted on 02/28/2025 12:07:31 PM PST by 9YearLurker
[ Post Reply | Private Reply | To 1 | View Replies]

To: where's_the_Outrage?

11 posted on 02/28/2025 12:09:14 PM PST by PGR88
[ Post Reply | Private Reply | To 1 | View Replies]

To: butlerweave

Right - 2 1/2 times the national debt and they can cover ????


12 posted on 02/28/2025 12:09:40 PM PST by Palio di Siena (Kralik…..you get the wallet )
[ Post Reply | Private Reply | To 7 | View Replies]

To: butlerweave
Citi had $2.4 trillion in assets on its balance sheet in the third quarter of last year, according to its most recent financial statements from October 2024.
13 posted on 02/28/2025 12:09:46 PM PST by where's_the_Outrage? (Drain the Swamp. Build the Wall.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: where's_the_Outrage?

WHOOPS…..


14 posted on 02/28/2025 12:12:53 PM PST by telescope115 (I NEED MY SPACE!!! 🔭)
[ Post Reply | Private Reply | To 1 | View Replies]

To: where's_the_Outrage?

The guy should have moved it to an interest bearing account for a day. He might be hit with an overdraft but 1 day of even modest interest on $81 trillion should cover the bank fees. :)


15 posted on 02/28/2025 12:12:53 PM PST by Crolis ("To have a right to do a thing is not at all the same as to be right in doing it." -GKC)
[ Post Reply | Private Reply | To 1 | View Replies]

To: where's_the_Outrage?

Well, it could have been legit. The guy might have been selling eggs at the local farmers’ market.


16 posted on 02/28/2025 12:14:26 PM PST by Billthedrill
[ Post Reply | Private Reply | To 1 | View Replies]

To: where's_the_Outrage?

this would be the perfect day to spend all of it and blow away Al Sharpton’s 2/28 boycott 💵💵💵


17 posted on 02/28/2025 12:15:10 PM PST by chajin ("There is no other name under heaven given among people by which we must be saved." Acts 4:12)
[ Post Reply | Private Reply | To 1 | View Replies]

To: BBQToadRibs2

Who do they think they are, dems in congress?!

And a few too many Rs.


18 posted on 02/28/2025 12:15:12 PM PST by dp0622 (Tried a coup, a fake tax story, tramp slander, Russia nonsense, impeachment and a virus. They lost.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: reasonisfaith

Would have been amusing if they had immediately transferred the money to a Cayman Island account and bought themselves a nice country somewhere.
It’s good to be King.


19 posted on 02/28/2025 12:15:45 PM PST by sjmjax
[ Post Reply | Private Reply | To 3 | View Replies]

To: where's_the_Outrage?

I wonder what the interest earned would be for 90 minutes on 80 trillion would be, I’d be happy with that


20 posted on 02/28/2025 12:16:48 PM PST by srmanuel
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-53 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson