Thankfully, no actual money left the bank, and the customer didn't get to go on a trillionaire shopping spree. Although the incident (what the industry calls a "near miss") was serious enough for Citi to report it to US regulators. Citi (in classic damage-control mode) told Reuters that its "detective controls" flagged the issue quickly, and the mistake had "no impact" on the bank or the client. Funny enough though, this wasn't even an isolated incident. According to an internal report, Citi had 10 "near misses" of $1 billion or more last year alone, which (believe it or not) is an improvement from the 13 near disasters the year before. The bank has been under intense scrutiny for its risk management and compliance failures. Citi CFO Mark Mason recently admitted that they need to invest more in technology and regulatory reporting.