Citigroup mistakenly transfers $81 trillion to customer account

In April 2023, Citigroup experienced a major banking error when it mistakenly credited a customer with an astounding $81 trillion instead of the intended amount of $280. This incident occurred in the United States and highlighted significant lapses in the bank's operational controls. The substantial overpayment was not immediately caught, as it went unnoticed by two employees for about 90 minutes, raising concerns about internal processes and risk management within the financial institution. Upon discovery, Citigroup acted quickly to reverse the erroneous transaction, taking several hours to rectify the mistake. The matter was reported to both the Federal Reserve and the Office of the Comptroller of the Currency as a significant