Another 'near miss': Citigroup mistakenly credited a customer account with $81 trillion

Citigroup mistakenly credited a customer’s account with $81 trillion instead of $280 last April, but the error was caught and reversed within 90 minutes. The incident was reported as a “near miss” to regulators, highlighting the bank’s ongoing efforts to improve operational processes. Citi has experienced multiple near misses in recent years, including a $900 million error that led to the departure of former CEO Michael Corbat and ongoing regulatory fines.

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