Citigroup's $81 Trillion Error Sparks Alarm Over Risk Controls 🚨
In April, Citigroup accidentally credited a customer's account with $81 trillion instead of $280, highlighting serious concerns about internal risk management and oversight. Learn how this near miss could impact the bank's operations and regulatory scruti
Benzinga
3.1K views • Mar 3, 2025
About this video
Citigroup mistakenly credited a customer’s account $81 trillion last April instead of the intended $280. The error went unnoticed by two employees but was caught 90 minutes later, reversed within hours, and reported to regulators as a near miss. Citi stated that its controls detected and prevented any funds from leaving the bank. The Wall Street firm has struggled with operational mistakes and recorded 10 near misses of $1 billion or more last year. CEO Jane Fraser has prioritized improving risk and controls.
Video Information
Views
3.1K
Duration
0:37
Published
Mar 3, 2025
User Reviews
3.7
(3) Related Trending Topics
LIVE TRENDSRelated trending topics. Click any trend to explore more videos.