The American bank CitiGroup mistakenly deposited $81 trillion into a customer’s account instead of $280, according to a report published on Friday by the Financial Times.

This erroneous transaction occurred in April, after it was overlooked by an employee responsible for payments and another in charge of transaction validation before approval, according to the same source.

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A third bank employee eventually detected the mistake 90 minutes after the transfer. The operation was reversed a few hours later, according to an internal report reviewed by the newspaper.

The report stated that the transfer resulted from a data entry error and a backup system with an inadequate user interface.

The bank told the AFP that such a payment could never have actually occurred, as it does not have such a sum.

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In an email sent on Friday, CitiGroup stated that its control mechanisms quickly identified the error in the transfer between two internal accounts and that the transaction was immediately reversed.

The bank also affirmed that its systems would have prevented the money from leaving its accounts.

It added that, while there were no consequences for the bank or its client, this incident highlights its ongoing efforts to eliminate manual processes and automate controls.

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CitiGroup informed U.S. financial authorities of the erroneous transaction, referring to it as an incident that nearly resulted in a serious mistake, according to a source cited by the Financial Times.

In July 2024, the Federal Reserve (Fed) and the Office of the Comptroller of the Currency (OCC) imposed a $135.6 million fine on the bank due to failures in internal controls and risk management.

Both regulatory bodies found that CitiGroup had failed to meet the commitments made under an agreement reached with U.S. authorities in 2020, which had already imposed an initial fine of $400 million.

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