Sanrith Descartes
You have insufficient privileges to reply here.
- 46,107
- 127,828
"According to the FT, Citigroup credited a client’s account with $81tn when it meant to send only $280, an error that surely hinder the bank’s attempt to persuade regulators that it has fixed long-standing operational issues.
Citi’s $81tn near miss in April was due to an input error and a back-up system with a cumbersome user interface, according to FT sources. In mid-March, four transactions totaling $280 destined for a customer’s escrow account in Brazil had been blocked by a screen that catches payments that are potential sanction violations. The payment was quickly cleared, but nonetheless remained stuck in the bank’s system and unable to be completed normally."
Citi’s $81tn near miss in April was due to an input error and a back-up system with a cumbersome user interface, according to FT sources. In mid-March, four transactions totaling $280 destined for a customer’s escrow account in Brazil had been blocked by a screen that catches payments that are potential sanction violations. The payment was quickly cleared, but nonetheless remained stuck in the bank’s system and unable to be completed normally."
- 3
