Unheard of: bank makes error in customer's favor

[Adam H. Kerman]

Somehow, two bank employees at Citigroup charged with reviewing the
transaction failed to catch the mistake in what was supposed to be a
transfer of $280 into a client's account in April, 2024.

The $81tn 'near miss' at Citi
Plus, BP goes back to basics amid Elliott's pressure campaign and
ex-Barclays chief Jes Staley wants to clear his name
Due Diligence daily briefing
Financial Times
February 28, 2025
https://www.ft.com/content/86d7b252-be88-4ddc-a803-f9a94995e158

Steve Lehto video

I don't understand how funds were transferred given that the monies
didn't exist in the first place.

[BTR1701]

Post by Adam H. Kerman
Somehow, two bank employees at Citigroup charged with reviewing the
transaction failed to catch the mistake in what was supposed to be a
transfer of $280 into a client's account in April, 2024.
The $81tn 'near miss' at Citi
Plus, BP goes back to basics amid Elliott's pressure campaign and
ex-Barclays chief Jes Staley wants to clear his name
Due Diligence daily briefing
Financial Times
February 28, 2025
https://www.ft.com/content/86d7b252-be88-4ddc-a803-f9a94995e158
Steve Lehto video
http://youtu.be/LE62kLLNBxU
I don't understand how funds were transferred given that the monies
didn't exist in the first place.

Imagine checking your balance and finding you have $81 trillion in your
checking account. “Wow, my pension COLA really came through!”

I wouldn't take any out so they couldn't accuse me of stealing, but I might
transfer it to my savings account and let it sit there for a while before
reporting it. $81 trillion would generate a nice bit of interest even in just
a day or two...