Deutsche Bank transfers $6 billion to a client by mistake: FT

[raganius]

"Deutsche Bank AG erroneously paid $6 billion (3.9 billion pounds) to a U.S. hedge fund client after a junior trader processed the wrong figure, the Financial Times reported.

"The bank recovered the amount from the client the next day and the incident was reported to the U.S. Federal Reserve, the European Central Bank and the UK Financial Conduct Authority, the newspaper reported.

"The trade was processed by a junior member of the bank's London-based forex sales team in June while his boss was on a holiday, FT reported, citing two people familiar with the matter.

"The error occurred when the trader processed a gross figure instead of a net value that resulted in the trade having "too many zeroes", the newspaper said. Such mistakes are common but of this size are rare, the FT reported two people familiar with the matter as saying.

"Deutsche Bank was not immediately available for comment.

"(...)"

http://www.reuters.com/article/2015/10/20/us-deutsche-bank-hedgefunds-idUSKCN0SE08U20151020

lol

 

[raganius]

I wonder if these "$6 billion" are part of their premined lot, or if it's simply fresh baked one.

 

[tungfa]

lol

 

[stan.distortion]

Love this bit:

The bank reported a record pretax loss of 6 billion euros in the third quarter and warned of a possible dividend cut earlier this month.

"Its ok folks, we found it again" Seems a bit strange the figures are so close, wouldn't be surprised if there's a bit more to this story and I bet the guy on the receiving side got a big surprise

 

[splawik21]

Shit I thought they will not write about me, wanted to send them on all exchanges and buy some more dash before next year

 

[Sub-Ether]

Just goes to show how a number on a centralized server has no meaning,value or security.
Those guys have no mathematical laws to obey, i.e. they can make it up as they go along,the fraud opportunities must be vast and virtually unlimited.