Citigroup errorly credited customer account ‘Miss’ 81TN

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Citigroup is a client’s account 81 billion dollars when he only wants to send $ 280, an error that can prevent the regulators that lead to long-lasting operating problems.

In April last year, an internal transfer, not previously notified, a second officer appointed to check both the payment employee and operation, was used the next day before the development of the case.

A third employee detected a problem with the bank’s account balances, and the payment was arrested after payment of 90 minutes later. The payment was reverse several hours, according to the information of the event, which was familiar with the event and event of the event in finances.

No funds left CitiAccording to another person with the knowledge of the issue, “Near Miss” federal reserve and “nearby” “Near” announced to the COMPTroler’s office

The Bank said, “Detective controls have immediately identified the entrance error between the two Citi Ledger account, and this mechanisms have stopped the bank,” he said.

Added: “When there is no effect on the bank or our client, the episode emphasizes our efforts to eliminate hand processes and eliminate management.”

Events in a total of 10 near misses – when a bank The incorrect process is processed, but as a result, according to the internal report taken by FT, Citi can restore $ 1 billion or more in Citi. This figure was slightly less than the previous year. Citi refused to comment on this wider set of broader events.

Near Misses, the regulators do not have to be informed, ie these events do not have comprehensive public information about how often these events occur throughout the sector. Several former regulators and bank risk managers said they were near misses with more than $ 1 billion throughout the banking industry.

Close-ups to Citi, About five years after Wall Street Bank’s operational problems for about five years, the cosmetics group has sent $ 900 million to deal with Revlon’s debt 900 mn.

Citi’s wrong revlon payment, President Executive President Michael Corbat, led to the placement of recommended adjustment commands that cause the consent of the overthrow of large fines and activities.

Jane Fraser, the best CEO of Corbat in 2021, characterized the regulatory issues “most priority” from Citi’s Corbat. However, since the group, risk control and data management could not correct problems, October and the federal reserves were fined $ 136 million last year.

According to people familiar with the incident of Citi in April, in April, people who are familiar with the incident, were related to a reserve system with an entry error and a difficult user interface. In mid-March, a customer in Brazil was blocked by a screen that holds four $ 280 for the escrow account for the Eskro account, a screen that holds payments with potential sanctions.

Payment was cleared quickly, but despite this, the bank was squeezed in the system and could not be completed normally.

Citi’s Technology Group has instructed employees to engage the operations in a rarely used screen of operations. One of the program is filled with 15 zeros, including a transaction, which is not already filled with 15 zeros and a transaction to delete the person.