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Citigroup nearly shifted $6 billion to wealth account, Bloomberg reports

Editor March 3, 2025
2025-03-03T224314Z_1_LYNXNPEL220V2_RTROPTP_4_CITIGROUP

(Reuters) – Citigroup nearly transferred about $6 billion to a customer’s account in its wealth-management business by accident, Bloomberg News reported on Monday, citing people familiar with the matter.

The near-error occurred after a staffer handling the transfer copied and pasted the account number into a field for the dollar figure, which was detected on the next business day, the report added.

Citigroup did not immediately respond to a Reuters request for comment.

The wealth division’s error was reported to regulators and the company has since set up a tool to help vet large, anomalous payments and transfers, according to the report.

(Reporting by Bhanvi Satija in Bengaluru; Editing by Alan Barona)

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