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Market Chatter: Citigroup Mistakenly Credits Client With $81 Trillion Last April
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Market Chatter: Citigroup Mistakenly Credits Client With $81 Trillion Last April
Feb 28, 2025 3:28 AM

06:14 AM EST, 02/28/2025 (MT Newswires) -- Citigroup ( C ) mistakenly credited $81 trillion, instead of $280, to a client's account in April 2024 due to an input error and interface issues with the backup system, the Financial Times reported Friday, citing a internal report and sources familiar with the matter.

According to the report, the error was missed by two employees and was detected by a third employee 90 minutes after the transaction was posted. The error was reversed after several hours, FT added.

Citigroup ( C ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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