Exclusive-Citigroup plans to slash IT contractors, hire staff to improve controls
Citigroup plans to dramatically reduce its reliance on information technology contractors and hire thousands of employees for ...
Citigroup customer’s $280 deposit mistakenly credited to their account as $81 trillion
Citigroup erroneously credited $81 trillion, instead of $280, to a customer’s account and took hours to reverse the ...
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Citi Layoffs, Reorganization Are Progressing, CFO Says
“As we notify individuals, there is a notification period that runs some 90 days,” CFO Mark Mason said on a ... around five key business lines. Mason said Citi is already benefiting from ...
Citi bungle briefly credits client’s account with $81 trillion — instead of $280
Last month, Citi CFO Mark Mason said the bank is investing more to address its compliance issues, referring to regulatory ...
Citi’s $81 trillion mixup underscores the risks of manual processes
The firm did not confirm the dollar amount of the transaction. Regarding Citi’s transformation, the company spent $11.8 ...
Citigroup almost shifted $6 billion to customer’s account after copy-paste error
In January, Citi cut its closely watched profitability target in 2026 to tackle rising regulatory expenses. The company’s ...
Bank customer sent £64,000,000,000,000 instead of £200 in 'fat finger' mistake
Two co-workers even approved the astronomical sum – more than 20 times the UK’s GDP – before it was sent to the client’s account the following morning.
Citi’s $81 trillion mixup underscores the risks of manual accounting
Last year, Citi had a total of 10 "near misses" of $1 billion or greater, the Financial Times reported. Near misses are when ...