Citigroup happened to have earned around $6 billion in its clients' accounts in its asset management business, Bloomberg News reported on Monday that it cited people familiar with the issue.
Something close to invasion occurred after staff who processed the transfer had copied and pasted their account number into the Dollar count field.
Citigroup did not immediately respond to Reuters' request for comment. According to the report, the Wells Division near misses were reported to regulators, and the company has since set up tools to help with large, extraordinary payments and relocations.
The error was related to attempts to transfer funds between internal accounts, the report said.
Last week, the Financial Times reported that Citigroup accidentally credited $81 trillion to its customer's accounts rather than $280, and took several hours to overturn the transaction.
The Bloomberg report said Monday that both errors occurred in April, adding that the process at the heart of the first reported incident has since been fully automated.
In January, Citi cut closely monitored profitability targets in 2026 and tackled increased regulatory costs. The company's finance director, Mark Mason, said at the time that banks were investing more to address compliance issues, referring to regulatory penalties for risk management and data governance.
In 2020, the Secretary of the Currency and the Federal Reserve fined Citi for risk and data disruptions. Last July, regulators fined CITI $136 million for making insufficient progress in addressing these issues.
