According to a Friday report, Citigroup has made an error in lending to $ 81 trillion in $ 81 trillion, according to a Friday report Financial times.
Multi-trillion dollar error occurred in April 2024 and was taken into account by the second employee to check the operation before both the employee and the operation was approved. A third worker took the error 90 minutes after payment, leading to compiling a few hours after submission after the leading transaction of the leading Citigroup.
The value of the transaction is high General internal product including every country of the world 29.72 trillion dollars US GDP also exceeds Citigroup’s self $ 147 billion market capitalization.
No funds were left from the bank. Citigroup “Near Miss” or processing an incorrect amount of a bank, but to restore the money, the duration of a bank to restore the office of the US Federal Reserve and the Currency Comptoler Office.
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A Citigroup spokesman explained Businesslike He said the incident was “input error” and that he was “not affected by the bank or customer.” He also said that the operation was so large that could not be processed.
“Despite the fact that this size is not in fact, our detective controls have immediately identified the entrance error between the two Citi Ledger account,” said Citigroup spokesman Bi.
The bank also said Ft He said he would not to overcome access and work on automation of the entry process.
Citigroup CEO Jane Fraser. Photographer: Paul Yeung / Bloomberg through Getty Images
The Citigroup made a massive error first. Ft Last year, he was kidnapped in Citigroup 10, 10, 2023, he said.
In August 2020, Citigroup was sent by chance $ 900 million Revlon to Cosmetics Company’s creditors, instead of paying $ 7.8 million. He took the bank Two years of legal activities to restore most of the money. The episode caused Early retirement Then-CEO Michael Corbat and penalty $ 400 million About “dangerous and unfounded banking experiences from US regulators.
Citigroup’s current CEO, Jane Fraser, declared In September 2020, when the Director General is called the role, employees will work to ensure that employees are “safe and healthy” by investing in infrastructure, risk management and control.
Two years later a Citigroup employee accidentally added an additional zero About $ 300 billion euros or $ 322 billion, a shareholder Self, which is $ 322 billion in European shares. British regulators fined Citigroup 62 million poundsor $ 78 million, this is also in this regard last year.
Related: Citigroup removed more work this week. Here’s how roles were affected.
US regulators also punished Citigroup $ 136 million To prevent the gaps in operations last year.
Citigroup is not the only large bank that is fined on transactions. The largest bank in the United States Jpmorgan Chase 3.9 trillion dollars In assets, fined about $ 350 million In March 2024, US regulators for “without adequate control” operations.
