Citibank's $900 Million Blunder

What happens when you accidentally transfer ~$900 million to somebody you didn’t mean to? An explainer on Citi's $1 billion blunder.

At this point, you’re probably thinking — Finders Keepers. But alas, playground rules don’t apply in the real world. It’s all very very complicated.

The principle of Unjust Enrichment

In contract law, unjust enrichment happens when there’s an enrichment of one party at the expense of another in circumstances that the law sees as unjust...

What happens when you accidentally transfer ~$900 million to somebody you didn’t mean to? An explainer on Citi's $1 billion blunder.

At this point, you’re probably thinking — Finders Keepers. But alas, playground rules don’t apply in the real world. It’s all very very complicated.

The principle of Unjust Enrichment

In contract law, unjust enrichment happens when there’s an enrichment of one party at the expense of another in circumstances that the law sees as unjust...