The Lessons From Citibank's Mistaken $900 Million Transfer

I read this story about Citibank's mistaken transfer—which cost it about half a billion dollars—a while back, and the sheer improbability of the mistake struck me. How could a banking giant make a blunder of such staggering magnitude despite multiple checks and balances? So what exactly went wrong here? I recently circled back to that story and realized that it was, unsurprisingly, more complicated than it had sounded at first blush. Nevertheless, as software developers and software users, I...
By: Hanzo

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