Providing Our Clients With Expert
Advice And Industry Best Practices
Call US TODAY
864-649-6300
English Spanish
Menu
Search

In The News

Home > Acquisitions > Citi Cites Human Error in Accidental $900M Transfer
Aug28 - 20

Citi Cites Human Error in Accidental $900M Transfer

Citi sued about a dozen companies last week in an attempt to recover the errant $900 million transfer, and secured court orders freezing more than half of that amount.

A group of Revlon’s lenders also filed a letter in court Monday, saying they’ve offered to return the money to Citi “in exchange for a standard indemnity Citibank would pay back the funds were it later determined that Citibank was not entitled” to them.

Citi has refused that condition, the lenders said, adding the bank still has not explained to them what happened. Read the complete article HERE.

Categories

Archives

Events

November
10, 2020

ComplyAdvantage is holding their second annual conference, "Designing Compliance for the Future," virtually on November 10th, 2020. Click here to register.

October
26 - 28, 2020

Money20/20 has always been about uniting the FinTech and Financial Services community, even in the toughest of times. In our enthusiasm and commitment to the…

contact us

Please fill out all fields marked with* and submit the following form to
request your consultation.

Contact Us Today

Please fill out all fields marked with * and submit the following form to request your consultation.

Call Now Button