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
https://www.youtube.com/watch?v=LE62kLLNBxU

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

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)

On Mar 1, 2025 at 7:58:35 AM PST, ""Adam H. Kerman"" <ahk@chinet.com> wrote:

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
https://www.youtube.com/watch?v=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...

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)