Citigroup erroneously credited client account with $81tn in ‘near miss’ – Financial Times

Citigroup credited a client’s account with $81tn when it meant to send only $280, an error that could hinder the bank’s attempt to persuade regulators that it has fixed long-standing operational issues. … A total of 10 near misses — incidents when a bank processes the wrong amount but ultimately is able to recover the funds — of $1bn or greater occurred at Citi last year, according to an internal report seen by the FT. The figure was down slightly from 13 the previous year. Citi declined to comment on this broader set of events.