01.03.2025 10:20
The American bank Citigroup mistakenly deposited $81 million (approximately 2.9 billion TL) into a customer's account instead of the $280 it was supposed to send. The error was only noticed 90 minutes later.
American bank Citigroup accidentally sent $81 million to a customer instead of $280 and only noticed the mistake 90 minutes later. This incident has once again brought to light the bank's operational vulnerabilities and the risks in financial systems.
THE BANK'S OPERATIONAL ISSUES IN THE SPOTLIGHT
This incident occurred during a period when Citigroup has been trying to address its long-standing operational issues. The erroneous transfer has once again highlighted the disruptions in the bank's internal processes.
MISTAKE NOTICED 90 MINUTES LATER
The erroneous transfer was noticed 90 minutes later by the bank's payment employee and the person overseeing the transaction. During this time, necessary steps were taken to reverse the erroneous transfer.
SIMILAR MISTAKES HAVE OCCURRED BEFORE
Citigroup has faced similar mistakes in the past. For example, in 2020, it accidentally sent $900 million to Revlon's creditors and was unable to recover a significant portion of that amount.
RISKS IN BANKS' DIGITAL SYSTEMS
Such incidents raise questions about the potential risks in banks' digital systems and how reliable these systems are. It is noted that banks need to develop stricter control mechanisms to prevent such mistakes.