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Fortune
Fortune
Sydney Lake

Citigroup's $81 trillion mistake is a warning sign 'that operational risk is still a ticking time bomb in banking,' expert says

(Credit: Getty Images—Jelena Danilovic)
  • Citigroup accidentally credited a customer account $81 trillion instead of $280 last April. It took three employees and several hours to realize and correct the error. Experts say mistakes of this magnitude are extremely rare, and incite mistrust in banking. However, Citigroup said there was “no impact to the bank or our client.”

A major error by Citigroup employees was just uncovered that would have made one customer a trillionaire.

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