India, Feb. 28 -- Citibank mistakenly transferred $81 trillion (over Rs 7,000 lakh crore) to a client instead of $280 (approximately Rs 24,500) in April last year, Financial Times reported. The error was corrected within hours.

The oversight involved two employees who failed to notice the incorrect transaction.

A third employee detected the mistake about 90 minutes after it was processed.

A Citigroup spokesperson told Bloomberg that such a transaction "could not actually have been executed."

They explained that Citi's internal controls quickly identified the error between two ledger accounts, allowing the bank to reverse the entry.

According to Financial Times, Citi recorded 10 near misses of $1 billion or more in 2023-down from 13 t...