Fat Finger Error at Deutsche Bank Accidentally Transfers $35B

By:
Chris Gaetano
Published Date:
Apr 20, 2018
Typo

Another major company has fallen victim to the inelegant fingers of fallible humans, as it was revealed that a typo accidentally led Deutsche Bank to accidentally transfer $35 billion to one of its outside accounts, according to Bloomberg. The bad transfer was quickly reversed and no financial damage was done, but Bloomberg said the mistake indicates an internal control weakness likely centered around the bank's IT infrastructure. This is because when such an error occurs, it should be caught in an internal system known as "bear trap" which has been in place since a similar error took place in 2014. 

Fat finger errors have featured in other recent news stories as well. Last week, a typo caused Samsung to distribute $105 billion in stock that does not actually exist. Last month, meanwhile, an oil company made a typo that led it to open a 15.2 million share closing auction. If the world learns nothing else from these errors, it is to be sure to double-check your work before hitting "send." 

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