Finance Breaking news Decades old software led to Citi's $1 billion transfer headache last financial news

Breaking-Finance.Com - Citi says defective software dating from the 1990s was the cause of a $1 billion wire transfer screw up earlier this month.

Finance Breaking news Decades old software led to Citi's $1 billion transfer headache last financial news

Breaking-Finance.Com - Citi says defective software dating from the 1990s was the cause of a $1 billion wire transfer screw up earlier this month.

Finance Breaking news Decades old software led to Citi's $1 billion transfer headache last financial news
26 August 2020 - 15:00

Breaking-Finance.Com - Citi says defective software dating from the 1990s was the cause of a $1 billion wire transfer screw up earlier this month. Citi is running multiple lawsuits to recover funds sent in error to creditors of the struggling cosmetics company Revlon.

. “We take pride in the role that we play as a global leader in financial services and recognise that an operational error of this nature is unacceptable,” Citigroup says in a statement. “We have put significant, additional controls in place until the new system is operational.”

Source = Breaking-Finance.Com

Financial breaking news

This news 57 hits received.

Finance Breaking news Decades old software led to Citi's $1 billion transfer headache last financial news


Finance Breaking news Decades old software led to Citi's $1 billion transfer headache last financial news


Finance Breaking news Decades old software led to Citi's $1 billion transfer headache last financial news


Finance Breaking news Decades old software led to Citi's $1 billion transfer headache last financial news

COMMENTS

  • 0 Comment
MAY INTEREST YOU x
Finance Breaking news SIX Fintech Ventures invests in Keyrock last financial news
Finance Breaking news SIX Fintech Ventures invests in Keyrock last...
Finance Breaking news Alliance Data to buy BNPL player Bread last financial news
Finance Breaking news Alliance Data to buy BNPL player Bread last...